prepare the journal entry to record the revaluation of the assets on June 5 prior to dissolution of the firm.

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A: GIVEN    Unruh, Grey, and Carter are partners with capital balances of $80,000, $200,000, and…

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A: Creditors are the stakeholders which the company has taken the loan from.

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A: Step 1 :Calculate the total cost contributed by Partner Car and Partner Lam.

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Q: When Danny withdrew from John, Daniel, Harry, and Danny, LLP, he was paid $80,000, although his…

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A: Given:

Q: On January 1 , FRED and GEMMO formed a partnership by contributing cash of P300,000 and P360,000 ,…

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Q: Gon and Killua formed a partnership on January 1, 2019 with Gon contributing 16,000 while Killua…

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A: Working note: Computation of value of assets and liabilities contributed by the partners:

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Q: Sabio, as her original investment in the firm of Sabio and Mariano, contributed…

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Q: Anna and Ben formed a partnership. Anna contributed cash of P786,000 and office equipment costing…

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A: Requirement a:Record the journal entry for the asset revaluation.

Q: Dior, Christian and Jovani have capital balances of P240,000, P400,000 and P144,000, respectively…

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Q: Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton…

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Q: Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse…

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Q: On June 30, the balance sheet for the partnership of Williams, Brown and Lowe together with their…

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Q: Unruh, Grey, and Carter are partners with capital balances of P80,000, P200,000, and…

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Q: On May 1, 2010, Clark, Kent and Louis are partners with capital balances of P 500,000, P 300,000 and…

A: