40,000.00 40,000.00 Accounts Receivable-net 200,000.00 200,000.00 Inventories 100,000.00 400,000.00 Plant Assets - Net 200,000.00 240,000.00 P 540,000.00 880,000.00 Equities Accounts Payable P 100,000.00 P 100,000.00 240,000.00 Martin, Capital (50%) Bossworth, Capital (50%) 200,000.00 540.000.00 The partnership of Martin and Bosworth is being dissolved, and the assets and equities at book value and fair value and profit and loss sharing ratios at January 1, 2021 are as follows: Martin and Bosworth agree to admit Trent into the partnership for one-third interest. Trent invests P190,000 cash and a building to be used in the business with a book value to Trent of P200,000 and a fair value of P220,000. Assuming that the assets are to be revalued, how much capital should be credited to Trent?

40,000.00 40,000.00 Accounts Receivable-net 200,000.00 200,000.00 Inventories 100,000.00 400,000.00 Plant Assets - Net 200,000.00 240,000.00 P 540,000.00 880,000.00 Equities Accounts Payable P 100,000.00 P 100,000.00 240,000.00 Martin, Capital (50%) Bossworth, Capital (50%) 200,000.00 540.000.00 The partnership of Martin and Bosworth is being dissolved, and the assets and equities at book value and fair value and profit and loss sharing ratios at January 1, 2021 are as follows: Martin and Bosworth agree to admit Trent into the partnership for one-third interest. Trent invests P190,000 cash and a building to be used in the business with a book value to Trent of P200,000 and a fair value of P220,000. Assuming that the assets are to be revalued, how much capital should be credited to Trent?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What is the amount received by partially secured creditor? A. P40,000B. P60,000C. P70,000D. P65,000
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
LiabilitiesOMRAssetsOMRShare capital400,000Land and building280,000Net profit60,000Plant and machinery700,000General reserve80,000Stock400,000Debentures840,000Debtors200,000Creditors200,000Bills receivables20,000Bills payable100,000Cash80,000Total1,680,000Total1,680,000 1>calculate total current liabilites 2>calculate total Current assets
The assects of fir 60000 ad capital 450000 it’s liabilities are
10:39 ..l 0.37 KB/S 79 4 1481/1705 The table below show the three kinds of assets, from your own understanding of investment, fill out the boxes of the investments you made or you plan to make in each type of assets. 3 Personal/Social Турes Tangible of assets Financial Send Set as Add to Edit Delete 久
*see attached What is the total unearned interest income? a. 3,052,705b. 2,652,705c. 2,252,705d. 6,000,000
What is the total unearned interest income? *a. 2,410,000b. 1,666,000c. 1,210,000d. 166,000
What is the Enterprise Value using XNPV Function when running the Base Case Drivers ( Perpetuity Method)? 181.147 million 107.886 million225.020 million 181.044 million
*see attached Determine the total current liabilities:a. P 1,300,000b. P 1,800,000c. P 2,200,000d. P 3,600,000
20. Total current liabilities a. P6,445,000 b. P5,105,000 c. P5,445,000 d. P3,945,000 21. Total noncurrent liabilities a. P7,700,000 b. P7,590,000 c. P7,500,000 d. P7,610,000
What is the situation that best describes the following amortization schedule? Payment # Amount Paid Interest Portion Principal Portion Principal Balance 12,000.00 1 3,132.39 210.00 2,922.39 9,077.61 2 3,132.39 158.86 2,973.53 6,104.08 3,132.39 106.82 3,025.57 3,078.51 4 3,132.38 53.87 3,078.51 0.00 Total 12,529.55 529.55 12,000.00 a. Reuben received a loan of $12,000 from a bank to purchase office supplies. He obtained the loan at an interest rate of 7% compounded quarterly for 1 year. Calculate the size of her end-of-quarter payments and construct an amortization schedule for his loan. b. Fabrizio received a loan of $12,000 from a bank to purchase office supplies. He obtained the loan at an interest rate of 70% compounded quarterly for 1 year. Calculate the size of her end-of-quarter payments and construct an amortization schedule for his loan. C. Reuben received a loan of $12,000 froma bank to purchase office supplies. He obtained the loan at an interest rate of 7% compounded every…