Sir Win Exercises
Sir Win Exercises
Non-Current
Land 2,500,000.00
Owners' Equity
Briones, Capital 1,850,000.00
Naynes, Capital 2,200,000.00
Total Owners' Equity 4,050,000.00
Cash 150,000.00
Accounts Receivables 280,000.00
Less: Allowance for Bad Debts -50,000.00 230,000.00
Inventory 180,000.00
Land 300,000.00
Building 600,000.00
Less: Accum. Depr. - Bulding -60,000.00 540,000.00
Total Assets 1,400,000.00
Land 200,000.00
Jara, Capital
To record the revaluing of Land.
Book Of Partnership
Marc.01-21 Cash 150,000.00
Accounts Receivables 280,000.00
Inventory 150,000.00
Land 500,000.00
Building 600,000.00
Office Supplies 15,000.00
Allowance for Bad debts
Accumulated Depreciation-building
Account Payable
Notes Payable
Interest Payable
Jara, Capital
To record the Investment of Jara to the Partnership
200,000.00
60,000.00
15,000.00
150,000.00
280,000.00
150,000.00
500,000.00
600,000.00
15,000.00
28,000.00
120,000.00
250,000.00
140,000.00
2,800.00
1,154,200.00
577,100.00
Jara
144,200.00
30,000.00
2,800.00
60,000.00
Lique Clothing Lines
Statement of Financial Position
November 30, 2021
Cash 100,000.00
Accounts Receivables 200,000.00
Inventory 160,000.00
Furniture and Fixtures 120,000.00
Total Assets 580,000.00
Inventory 20,000.00
Lique, Capital
To adjust Lique's Inventory
100,000.00
Accounts Receivables 160,000.00
Inventory 185,000.00
Machineries 180,000.00
Allowance for Bad Debts
Accumulated Depreciation- Machineries
Accounts Payable
Sultan, Capital
To record the investment of Sultan to the Partnership.
30,000.00
Cash
Accounts Receivables
Allowance for Bad Debts
20,000.00 Inventory
Furniture and Fixtures
Machineries
Total Assets
15,000.00
24,000.00
15,000.00
18,000.00
100,000.00
200,000.00
180,000.00
120,000.00
####
100,000.00
160,000.00
185,000.00
180,000.00
30,000.00
15,000.00
100,000.00
455,000.00
24,000.00
18,000.00
250,000.00
333,000.00
Charles Angel Clothing Circles
Statement of Financial Position
Nov. 30, 2021
200,000.00
360,000.00
-54,000.00 306,000.00
365,000.00
105,000.00
162,000.00
1,138,000.00
lothing Circles
ancial Position
, 2021
3
Assumption no. 3