Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital balance of partner BADIR after the adjustments?(...
Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital balance of partner BADIR after the adjustments?(...
Chapter21: Partnerships
Section: Chapter Questions
Problem 28P
Related questions
Question
Transcribed Image Text:AQUIL and BADIR formed a partnership on
January 2, 2022 by contributing their
respective assets and equities subject to
adjustments. On that date, the following
were provided:
Cash
Accounts Receivable
Inventories
Land
Building
Equipment
Intangible assets
Accounts Payable
Other Liabilities
Capital
AQUIL BADIR
28,000 62,000
200,000 600,000
120,000 200,000
600,000
500,000
50,000 35,000
2,000 3,000
180,000
250,000
200,000 350,000
OZU,UUU 800,000
Transcribed Image Text:Accounts Payable
Other Liabilities
Capital
Additional information:
180,000 250,000
200,000 350,000
620,000 800,000
1. Accounts Receivable of P20,000 and
P40,000 are uncollectible in AQUIL's and
BADIR's respective books.
2. Inventories of P6,000 and P7,000 are
worthless in AQUIL's and BADIR's
respective books.
3. Intangible assets are to be worthless in
each books.
Question 3 What will be the capital
=
balance of partner BADIR after the
adjustments?(...
d
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