Bundle: Accounting, Loose-Leaf Version, 27th + CengageNOWv2, 1 term Printed Access Card for Warren/Reeve/Duchac?s Financial Accounting, 15th
27th Edition
ISBN: 9781337899451
Author: Carl S. Warren; James M. Reeve; Jonathan Duchac
Publisher: South-Western College Pub
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Question
Chapter 12, Problem 12.3BPE
a.
To determine
It is that form of organization which is owned and managed by two or more persons who invest and share the profits and losses according to a pre-determined ratio.
Revaluation of assets
Prior to the admission of new partners in the firm, all assets of the firm are stated in the current value or in the adjusted value. Due to revaluation any net increase or decrease in the asset value is treated as revaluation
To provide: The
b.
To determine
To provide: The journal entry to admit L.
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I am searching for the correct answer to this general accounting problem with proper accounting rules.
A
1 DATE VALUE
VALUE
FORMULA
Use E6 "Problem Date" for green cells in col. E & I
C
D
E
F
G
H
VALUE
MEASURE
VALUE
FORMULA
MEASURE
1
Current Date (TODAY)
9
Current Time (NOW)
#N/A
#N/A
Cumulative full days this year
Year to date fraction (YEARFRAC)
Use E6 "Problem Date" for green cells in col. E & I
2
3
4
548
5
3835
6
40468
Problem Date
7
Year (YEAR)
8 Date Value
Fractional Date
Month (MONTH)
9
40468.25
10
40468.375
11
40468.625
12
Day (DAY)
End of month
Start of month
13
Start of next month
14
15 DATE DATA CLEANUP and MANIPULATION
First day of the year
10/8/2019
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
Month to date fraction of year
Day of the week
TIP: Use custom date format to display
as the name of the day (dddd)
Name of month
#N/A
#N/A
#N/A
#N/A
#N/A
Workdays in current month
#N/A
30 workdays (excluding weekends) from today
#N/A
Days between today and 30 workdays from now
#N/A
16
Target
$2,000
17
18 DATE
REVENUE
MONTH
DAY OF WEEK
Hit Target?
MONTH
FORMULAS for TABLE COLUMNS C through E…
Chapter 12 Solutions
Bundle: Accounting, Loose-Leaf Version, 27th + CengageNOWv2, 1 term Printed Access Card for Warren/Reeve/Duchac?s Financial Accounting, 15th
Ch. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQ
Ch. 12 - Prob. 12.1APECh. 12 - Prob. 12.1BPECh. 12 - Prob. 12.2APECh. 12 - Prob. 12.2BPECh. 12 - Prob. 12.3APECh. 12 - Prob. 12.3BPECh. 12 - Prob. 12.4APECh. 12 - Prob. 12.4BPECh. 12 - Liquidating partnerships Prior to liquidating...Ch. 12 - Prob. 12.5BPECh. 12 - Prob. 12.6APECh. 12 - Prob. 12.6BPECh. 12 - Revenue per employee Niles and Cohen, CPAs earned ...Ch. 12 - Prob. 12.7BPECh. 12 - Prob. 12.1EXCh. 12 - Prob. 12.2EXCh. 12 - Prob. 12.3EXCh. 12 - Prob. 12.4EXCh. 12 - Prob. 12.5EXCh. 12 - Prob. 12.6EXCh. 12 - Prob. 12.7EXCh. 12 - LLC net income and statement of members equity...Ch. 12 - Prob. 12.9EXCh. 12 - Prob. 12.10EXCh. 12 - Prob. 12.11EXCh. 12 - Prob. 12.12EXCh. 12 - Prob. 12.13EXCh. 12 - Prob. 12.14EXCh. 12 - Prob. 12.15EXCh. 12 - Prob. 12.16EXCh. 12 - Statement of members' equity, admitting new member...Ch. 12 - Distribution of cash upon liquidation Hewitt and...Ch. 12 - Distribution of cash upon liquidation David Oliver...Ch. 12 - Prob. 12.20EXCh. 12 - Prob. 12.21EXCh. 12 - Liquidating partnershipscapital deficiency...Ch. 12 - Prob. 12.23EXCh. 12 - Prob. 12.24EXCh. 12 - Prob. 12.25EXCh. 12 - Revenue per professional staff The accounting firm...Ch. 12 - Revenue per employee Superior Cleaning Services,...Ch. 12 - Prob. 12.1APRCh. 12 - Prob. 12.2APRCh. 12 - Prob. 12.3APRCh. 12 - Prob. 12.4APRCh. 12 - Prob. 12.5APRCh. 12 - Prob. 12.6APRCh. 12 - Prob. 12.1BPRCh. 12 - Prob. 12.2BPRCh. 12 - Prob. 12.3BPRCh. 12 - Prob. 12.4BPRCh. 12 - Prob. 12.5BPRCh. 12 - Statement of partnership liquidation On August 3,...Ch. 12 - Prob. 12.1CPCh. 12 - Prob. 12.3CPCh. 12 - Prob. 12.4CP
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