Answers only GABI Company incurred P90,000 ofdepreciation for the year. 80% relatesto the firm's production facilities, and20% relates to sales andadministrative offices. If all items arehandled in the proper manner, areview of the company's accountingrecords should reveal a:debit to Depreciation Expense for P90,000debit to Manufacturing Overhead forP90,000debit to Manufacturing Overhead forP72,000debit to Work-in-Process Inventory forP18,000The following are the inherent rightsof a partner except the right toA. Share in the profitsB. Participate in managementC. Demand salariesO D. Share in the partnership assets

Solution 1: Depreciation related to production facilities = P90,000*80% = P72,000 A review of…

GABI Company incurred P90,000 of depreciation for the year. 80% relates to the firm's production facilities, and 20% relates to sales and administrative offices. If all items are handled in the proper manner, a review of the company's accounting records should reveal a:

GABI Company incurred P90,000 of depreciation for the year. 80% relates to the firm's production facilities, and 20% relates to sales and administrative offices. If all items are handled in the proper manner, a review of the company's accounting records should reveal a:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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