Problem 2-2 (Two sole proprictors foro pertnerchie: Books used y he portner chP of one of he cole prpietors to be On octber ,2014 Apr and Arias decided o Pool heur ossets and formn o rm is to toke ousiness ossets portherchp The besed ond assume to be business tiobilities, equities Ore odjustmends the foilowing 1ronsferred afkr net osets P350, 000 Arso inventory 15 to be Vatued ot occ ountc of P 9.000 ond P3500, for uncallectioe bAn ollowance Ser up cespectively houid lbe to be recogn/sed on Aprils C Acceved of P21.000 ore xpenses foocks suficent cosh to give him a Go d. Aios 15 to contibute firm. ne w interest October 2 Statements of finonciol position for April ond Arias befor e adjustments On Presenkd below. are Avios April P P112,500 Cach 450, 000 375.000 Accourts Receivabie Merch ondse tnventory 300, 00 0 300,000 ( 39,5o0) 400, 000 Equipment Accumuloted Deprecion on 250,000 C12,500) PI, 195.000 TOTO AS5ets PI,O60,000 A ce ounts Royoble Copitol rotoi Liobilties Copto) P 35. 830 000 PI,195,000 250, 000 B00,000 Pl.050.000 Inctructions GIve the entriec to odjust ond Close the bocks ofApril books of Arias upon the 2 Give the for motion of the portnership 3 Prepore o entries required on he toement of finonuol posithon for new portnershp of April ond Arias Problem 2-2 (Two sole proprictors foro pertnerchie: Books used y he portner chP of one of he cole prpietors to be On octber ,2014 Apr and Arias decided o Pool heur ossets and formn o rm is to toke ousiness ossets portherchp The besed ond assume to be business tiobilities, equities Ore odjustmends the foilowing 1ronsferred afkr net osets P350, 000 Arso inventory 15 to be Vatued ot occ ountc of P 9.000 ond P3500, for uncallectioe bAn ollowance Ser up cespectively houid lbe to be recogn/sed on Aprils C Acceved of P21.000 ore xpenses foocks suficent cosh to give him a Go d. Aios 15 to contibute firm. ne w interest October 2 Statements of finonciol position for April ond Arias befor e adjustments On Presenkd below. are Avios April P P112,500 Cach 450, 000 375.000 Accourts Receivabie Merch ondse tnventory 300, 00 0 300,000 ( 39,5o0) 400, 000 Equipment Accumuloted Deprecion on 250,000 C12,500) PI, 195.000 TOTO AS5ets PI,O60,000 A ce ounts Royoble Copitol rotoi Liobilties Copto) P 35. 830 000 PI,195,000 250, 000 B00,000 Pl.050.000 Inctructions GIve the entriec to odjust ond Close the bocks ofApril books of Arias upon the 2 Give the for motion of the portnership 3 Prepore o entries required on he toement of finonuol posithon for new portnershp of April ond Arias