TNT ll N 8% O 3:00 docs.google.com/forms 6 Case 1 Hinata, Kageyama, and Ukai formed a partnership called Haikyuu Company, a volleyball merchandise company. The partnership has operated for one year already. The profit or loss is allocated based on 2:4:2 The capital balances of the partners in December 31, 2020 is as follows: Hinata, Capital Kageyama, Capital Ukai, Capital P200,000 P600,000 P400,000 There are different independent situations happened on January 1, 2021 that would change the ownership status of the partnership. But before it happened, the following change in valuation have to be considered first: The inventory is undervalued by P10,000. Accounts Receivable will be written-off by а. b. P20,000 C. Accounts payable is overvalued by P30,000. Case 1: Bokuto purchased two-tenth of Kageyama's capital by paying P150,000. What is the new capital balance of Kageyama after Bokuto's purchase of interest? * Your answer
TNT ll N 8% O 3:00 docs.google.com/forms 6 Case 1 Hinata, Kageyama, and Ukai formed a partnership called Haikyuu Company, a volleyball merchandise company. The partnership has operated for one year already. The profit or loss is allocated based on 2:4:2 The capital balances of the partners in December 31, 2020 is as follows: Hinata, Capital Kageyama, Capital Ukai, Capital P200,000 P600,000 P400,000 There are different independent situations happened on January 1, 2021 that would change the ownership status of the partnership. But before it happened, the following change in valuation have to be considered first: The inventory is undervalued by P10,000. Accounts Receivable will be written-off by а. b. P20,000 C. Accounts payable is overvalued by P30,000. Case 1: Bokuto purchased two-tenth of Kageyama's capital by paying P150,000. What is the new capital balance of Kageyama after Bokuto's purchase of interest? * Your answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:TNT l & ® O
N 8% ( 3:00
i docs.google.com/forms
Case 1
Hinata, Kageyama, and Ukai formed a
partnership called Haikyuu Company, a volleyball
merchandise company. The partnership has
operated for one year already. The profit or loss
is allocated based on 2:4:2 The capital balances
of the partners in December 31, 2020 is as
follows:
Hinata, Capital
Kageyama, Capital
Ukai, Capital
P200,000
Р600,000
P400,000
There are different independent situations
happened on January 1, 2021 that would change
the ownership status of the partnership. But
before it happened, the following change in
valuation have to be considered first:
The inventory is undervalued by P10,000.
Accounts Receivable will be written-off by
P20,000
а.
b.
c.
Accounts payable is overvalued by P30,000.
Case 1: Bokuto purchased two-tenth of
Kageyama's capital by paying P150,000.
What is the new capital balance of
Kageyama after Bokuto's purchase of
interest? *
Your answer
Transcribed Image Text:TNT E ® O
N 8% ( 3:00
docs.google.com/forms
Hinata, Capital
Kageyama, Capital
Ukai, Capital
P200,000
Рб00,000
P400,000
There are different independent situations
happened on January 1, 2021 that would change
the ownership status of the partnership. But
before it happened, the following change in
valuation have to be considered first:
The inventory is undervalued by P10,000.
Accounts Receivable will be written-off by
а.
b.
P20,000
с.
Accounts payable is overvalued by P30,000.
Case 1: Bokuto purchased two-tenth of
Kageyama's capital by paying P150,000.
What is the new capital balance of
Kageyama after Bokuto's purchase of
interest? *
Your answer
What is the entry on the purchase of
interest by Bokuto? *
Your answer
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