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I need the adjusting entries with amounts for letters A-D. The capital is 301,000

I need the adjusting entries with amounts for letters A-D. The capital is 301,000

FINANCIAL ACCOUNTING
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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I need the adjusting entries with amounts for letters A-D. The capital is 301,000
Bf the partnership. Alla Merchandise 16 -5 Accounts Payabl P. Sanico, Capit John Mark Cadua who has been in business for a quite long time has decided to venture in partnership business with Michael Auditor. The Statement of Financial Position of Cadua prior to the inception of the partnership revealed the following balances: Jay Raymond Delfin of (fair market value of p Cash Accounts Receivable P 85,000 a. The Accounts form part of h Allowance for Doubtful Accounts Merchandise Equipment Acc. Depreciation-Equipment Accounts Payable J. Cadua, Capital 60,000 4,000 120,000 b. The Account be treated a 150,000 30,000 80,000 c. Sanico ma three four As agreed, Auditor will contribute cash equal to one-half (1/2) of the capital balance of Cadua after taking into account the following adjustments: How m the rec Q-1 a. The allowance for doubtful accounts is over set-up by P3,000. b. Merchandise be valued P105,000 due to obsolescence. a. P2 C. The equipment is under depreciated by P15,000. d. Accounts Payable was overstated by P4,000 due to recording of an expense. Q-2 How cond
Transcribed Image Text:Bf the partnership. Alla Merchandise 16 -5 Accounts Payabl P. Sanico, Capit John Mark Cadua who has been in business for a quite long time has decided to venture in partnership business with Michael Auditor. The Statement of Financial Position of Cadua prior to the inception of the partnership revealed the following balances: Jay Raymond Delfin of (fair market value of p Cash Accounts Receivable P 85,000 a. The Accounts form part of h Allowance for Doubtful Accounts Merchandise Equipment Acc. Depreciation-Equipment Accounts Payable J. Cadua, Capital 60,000 4,000 120,000 b. The Account be treated a 150,000 30,000 80,000 c. Sanico ma three four As agreed, Auditor will contribute cash equal to one-half (1/2) of the capital balance of Cadua after taking into account the following adjustments: How m the rec Q-1 a. The allowance for doubtful accounts is over set-up by P3,000. b. Merchandise be valued P105,000 due to obsolescence. a. P2 C. The equipment is under depreciated by P15,000. d. Accounts Payable was overstated by P4,000 due to recording of an expense. Q-2 How cond
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