What is the capital of Jungkook after the adjustments? * A Þn June 1, 2021, Jungkook and Jimin decides to continue their businesses and form a partnership. Statement of financial position on June 1, before adjustments, showed the following Jungkook 10,000 Jimin 3,750 Cash Accounts receivable Inventories Fumiture and Fixtures 18,500 30,000 30,000 11,500 13,500 19,500 9,000 2,750 3,000 Office Equipment Prepaid Expenses 6,375 Accounts Payable 45,700 18,000 They agreed to provide 5% for doubtful accounts receivable, and also agree that Jungkook's fumiture and fixtures are over depreciated by P1,500. O 58,250 O 61,250 D 59,175 D 69,000
What is the capital of Jungkook after the adjustments? * A Þn June 1, 2021, Jungkook and Jimin decides to continue their businesses and form a partnership. Statement of financial position on June 1, before adjustments, showed the following Jungkook 10,000 Jimin 3,750 Cash Accounts receivable Inventories Fumiture and Fixtures 18,500 30,000 30,000 11,500 13,500 19,500 9,000 2,750 3,000 Office Equipment Prepaid Expenses 6,375 Accounts Payable 45,700 18,000 They agreed to provide 5% for doubtful accounts receivable, and also agree that Jungkook's fumiture and fixtures are over depreciated by P1,500. O 58,250 O 61,250 D 59,175 D 69,000
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter12: Accounting For Partnerships And Limited Liability Companies
Section: Chapter Questions
Problem 3PB
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Transcribed Image Text:What is the capital of Jungkook after the adjustments? *
On June 1, 2021, Jungkook and Jimin decides to continue their businesses and form a partnership.
Statement of financial position on June 1, before adjustments, showed the following
Cash
Accounts receivable
Inventories
Fumiture and Fixtures
Jungkook
10,000
18,500
30,000
30,000
11,500
Jimin
3,750
13,500
19,500
Office Equipment
Prepaid Expenses
9,000
2,750
3,000
6,375
Accounts Payable
45,700
18,000
They agreed to provide 5% for doubtful accounts receivable, and also agree that Jungkook's
furniture and fixtures are over depreciated by P1,500.
O 58,250
O 61,250
O 59,175
69,000
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