UAI Problem 2-2 (Two sole Proprietors formo pertnershiP Books by the portner chip) of used one of to be +he sole Propietors ossets Cn Octcber 1, 2014 Apri ond Aros their decided t Pool lbusiness 0ssetc and portnerchip The firm IS to toke form o ONer on besed ond business liobilities, quities Ore ass ume 1ronsferred the folowing odsustments net oss ets afkr P 350, 000 Arios 15 to be Vatued ot inventory a. Pq.00D ond P350o, for uncollec+ioe occ ounts of b. An alowonce ser up chould be respectively C Accrued to be recognized on April's P 21,000 of ore xpenses lbocks GOT cosh rve him a d. Arios contri bute suficaent 15 to to firm. the ne w Interest October 1 On of finoncia) position for April ond Arias Stotements below befor e adjustments Presenkd are Arios A pril P 187500 Cach 112, 500 450, 000 375.000 Accourts Receivable 40o, 000 300, 000 Merch ond5e Inventor Equipment Accumuloted Deprecioh on TOTO ASSets 250,000 300,000 ( 39,600) (12.500) PI,175.000 P 1, 050,000 A ccounts Royoble Copitol rotoi Liobilties Copto) P 345,000 830 000 P 250, 000 B00,000 Pi.050,000O Pi,195,000 Instructions Give the entries to odjust ond Close the of April. books 2 Give the entries required on the books of Arias for motion of port nership. of finanuol posihon upoh the fthe 3 Prepore o ctokment for the new portnershp of April 0nd Arias