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    Illustration: Formation of Partnership Valuation of Capital A B

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    Arian Amurao
    A and B formed a partnership. A contributed P230,000 in cash, accounts receivable, inventory, and land. B contributed P170,000 in cash, building, and land. Additional details provide adjustments to accounts like recognizing an uncollectible receivable, estimated costs of inventory, mortgages on land and building, and depreciation of building. The partnership agreement states A and B will share profits and losses at a 60-40 ratio.

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    © All Rights Reserved
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    Illustration: Formation of Partnership Valuation of Capital A B

    Uploaded by

    Arian Amurao
    157 views2 pages
    A and B formed a partnership. A contributed P230,000 in cash, accounts receivable, inventory, and land. B contributed P170,000 in cash, building, and land. Additional details provide adjustments to accounts like recognizing an uncollectible receivable, estimated costs of inventory, mortgages on land and building, and depreciation of building. The partnership agreement states A and B will share profits and losses at a 60-40 ratio.

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    A and B formed a partnership. A contributed P230,000 in cash, accounts receivable, inventory, and land. B contributed P170,000 in cash, building, and land. Additional details provide adjustments to accounts like recognizing an uncollectible receivable, estimated costs of inventory, mortgages on land and building, and depreciation of building. The partnership agreement states A and B will share profits and losses at a 60-40 ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    157 views2 pages

    Illustration: Formation of Partnership Valuation of Capital A B

    Uploaded by

    Arian Amurao
    A and B formed a partnership. A contributed P230,000 in cash, accounts receivable, inventory, and land. B contributed P170,000 in cash, building, and land. Additional details provide adjustments to accounts like recognizing an uncollectible receivable, estimated costs of inventory, mortgages on land and building, and depreciation of building. The partnership agreement states A and B will share profits and losses at a 60-40 ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    ILLUSTRATION: FORMATION OF PARTNERSHIP VALUATION OF CAPITAL

    A and B formed a partnership. The following are their contributions


    A B
    Cash 100,000
    Accounts Receivable 50,000
    Inventory 80,000
    Land 50,000
    Building 120,000
    Total 230,000 170,000

    Note payable 60,000


    A, Capital 170,000
    B, Capital 170,000
    total 230,000 170,000

    Additional information:
     Included in accounts receivable is an account amounting to 20, 000 which IS
    deemed uncollectible 
     The inventory has an estimated selling price of 100,000 and estimated costs
    to sell of P10, 000 
     An unpaid mortgage of P10, 000 on the land IS assumed by the partnership. 
     The building is under-depreciated by 25,000. 
     The building also has an unpaid mortgage amounting to 15,000, but the
    mortgage is not assumed by the partnership. B agreed to settle the mortgage
    using his personal funds. 
     The note payable is stated at face amount. A proper valuation requires the
    recognition of a P15, 000 discount on note payable
     A and B shall share in profits and losses 60% and 40% respectively.
    Dfsgs

    ILLUSTRATION: FORMATION OF PARTNERSHIP VALUATION OF CAPITAL


    A and B formed a partnership. The following are their contributions
    A B
    Cash 100,000
    Accounts Receivable 50,000
    Inventory 80,000
    Land 50,000
    Building 120,000
    Total 230,000 170,000

    Note payable 60,000


    A, Capital 170,000
    B, Capital 170,000
    total 230,000 170,000

    Additional information:
     Included in accounts receivable is an account amounting to 20, 000 which IS
    deemed uncollectible 
     The inventory has an estimated selling price of 100,000 and estimated costs
    to sell of P10, 000 
     An unpaid mortgage of P10, 000 on the land IS assumed by the partnership. 
     The building is under-depreciated by 25,000. 
     The building also has an unpaid mortgage amounting to 15,000, but the
    mortgage is not assumed by the partnership. B agreed to settle the mortgage
    using his personal funds. 
     The note payable is stated at face amount. A proper valuation requires the
    recognition of a P15, 000 discount on note payable
     A and B shall share in profits and losses 60% and 40% respectively.
    Sdfjksgjk

    ILLUSTRATION: FORMATION OF PARTNERSHIP VALUATION OF CAPITAL


    A and B formed a partnership. The following are their contributions
    A B
    Cash 100,000
    Accounts Receivable 50,000
    Inventory 80,000
    Land 50,000
    Building 120,000
    Total 230,000 170,000

    Note payable 60,000


    A, Capital 170,000
    B, Capital 170,000
    total 230,000 170,000

    Additional information:
     Included in accounts receivable is an account amounting to 20, 000 which IS
    deemed uncollectible 
     The inventory has an estimated selling price of 100,000 and estimated costs
    to sell of P10, 000 
     An unpaid mortgage of P10, 000 on the land IS assumed by the partnership. 
     The building is under-depreciated by 25,000. 
     The building also has an unpaid mortgage amounting to 15,000, but the
    mortgage is not assumed by the partnership. B agreed to settle the mortgage
    using his personal funds. 
     The note payable is stated at face amount. A proper valuation requires the
    recognition of a P15, 000 discount on note payable
     A and B shall share in profits and losses 60% and 40% respectively.

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