Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 19, 2024

d. The fair value inventories amounted to P29,500 for Jose and P21,000 for Kiko. The net (debit) credit adjustment to partner's capital accounts are: Jose

d. The fair value inventories amounted to P29,500 for Jose and P21,000 for Kiko. The net (debit) credit adjustment to partner's capital accounts are: Jose Kiko a. (P2,870) (P2,820) b. P1.870 P2.820 C. P870 (P180) d (P870) P180

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

13th edition

978-1-119-4110, 1119411483, 9781119411017, 978-1119411482

More Books

Students also viewed these Accounting questions

Question

★★★★★

Spencer Software Company has assets of $1,020,000 and liabilities of $552,000. a. Prepare the owners' equity section of the company's balance sheet under each of the following independent...

Answered: 1 week ago

Question

★★★★★

Direct labor budget. Note: Round per unit values to 2 decimal places. General and administrative expense budget. Selling expense budget. 1. Sales budget 2. Production budget 3. Direct materials...

Answered: 1 week ago

Question

★★★★★

The Secret of Success Go to www.mhhe.com/waitley5e for the link to a Web site that profiles people of great accomplishment. Select three biographies to read. How did these people achieve success?...

Answered: 1 week ago

Question

★★★★★

A new furnace for your small factory will cost $27,000 a year to install and will require ongoing maintenance expenditures of $1,500 a year. But it is far more fuel- efficient than your old furnace...

Answered: 1 week ago

Question

★★★★★

Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $100.972 million Total Common Stock of $5.080 million Cash of $8.040 million Retained Earnings of $31.734...

Answered: 1 week ago

Question

★★★★★

14 Saved Exercise 4-14 (Algo) Allocating overhead cost to jobs using activity-based costing LO P3 Pro-Craft Company computed the following activity rates to allocate overhead cost for the year....

Answered: 1 week ago

Question

★★★★★

What is Accounting?

Answered: 1 week ago

Question

★★★★★

Define organisation chart

Answered: 1 week ago

Question

★★★★★

What are the advantages of planning ?

Answered: 1 week ago

Question

★★★★★

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

★★★★★

What Is acidity?

Answered: 1 week ago

Question

★★★★★

Question 4 (a) Describe the THREE (3) issues that a financial institution will have to consider when assessing credit risk from a single counterparty. (b) Discuss how 'oredit quality' can affect the...

Answered: 1 week ago

Question

★★★★★

3. Find examples from your everyday life of people or situations that fit the Ithaca Syndrome.

Answered: 1 week ago

Question

★★★★★

1. Discuss the following: a) If you want stability, you should focus on change. b) What happens when an effect becomes a cause? c) If you do the opposite of what is expected, the reaction is changed....

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts: Systemic, positive feedback loop, negative feedback loop, negative feed-back loop dominance, positive feedback loop dominance,...

Answered: 1 week ago

Previous Question Next Question