As of September 30, 2019, the statement of financial position of R Mahangin are the following:...
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As of September 30, 2019, the statement of financial position of R Mahangin are the following: Cash P 5000 Accounts Receivable Merchandise Inventory 20000 30000 36000 6000 Furniture & Fixtures Accounts Payable Information: 5% of the receivables proved to be uncollected, Merchandise Inventory has obsolete items costing P10000. Furniture may cost 40000. Mr R Bagyo is to be admitted as a partner upon investing P40000 cash and P20000 worth of merchandise. What is the total asset of the partnership? SHOW COMPUTATION As of September 30, 2019, the statement of financial position of R Mahangin are the following: Cash P 5000 Accounts Receivable Merchandise Inventory 20000 30000 36000 6000 Furniture & Fixtures Accounts Payable Information: 5% of the receivables proved to be uncollected, Merchandise Inventory has obsolete items costing P10000. Furniture may cost 40000. Mr R Bagyo is to be admitted as a partner upon investing P40000 cash and P20000 worth of merchandise. What is the total asset of the partnership? SHOW COMPUTATION
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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