BENGIL, RANILO JAY G.Actg12bPROBLEM NO. 1: JOURNAL ENTRIES PROBLEM NO. 5: JE and Statement of FinBOOKS OF THE PARTNERSHIP BOOKS OF FISH R' US1) Cash P 280,000 1) Cash PInventory 510,000 Accounts ReceivableLand 1,350,000 InventoryNotes Payable P 350,000 EquipmentFroilan Labausa, Capital 1,790,000 Allowance for Uncollectible AccountsTo record the investment of Froilan Labausa Accounts PayableEspanol
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BENGIL, RANILO JAY G.
Actg12b
PROBLEM NO. 1: JOURNAL ENTRIES PROBLEM NO. 5: JE and Statement of Fin
BOOKS OF THE PARTNERSHIP BOOKS OF FISH R' US
1) Cash P 280,000 1) Cash P
Inventory 510,000 Accounts Receivable
Land 1,350,000 Inventory
Notes Payable P 350,000 Equipment
Froilan Labausa, Capital 1,790,000 Allowance for Uncollectible Accounts
To record the investment of Froilan Labausa Accounts Payable
Espanol, Capital
2) Cash P 1,790,000 To record the investment of Espanol
Rosalie Balhag, Capital P 1,790,000
To record the investment of Rosalie Balhag 2) Cash P
Quino, Capital
Computations: Book Adjusted To record the investment of Quino
Cash P 280,000 P 280,000
Inventory 600,000 510,000 Computations:
Land 650,000 1,350,000 Cash P
Notes Payable (350,000) (350,000) Accounts Receivable
F. Labausa, Capital P 1,790,000 Allowance for Unc. Accounts
Inventory
Equipment
PROBLEM NO. 4: JOURNAL ENTRIES Accumulated Depreciation
Accounts Payable
BOOKS OF THE PARTNERSHIP Espanol, Capital
1) Cash P 300,000
Land 450,000 FISH R' US
Calaguas, Capital P 750,000 Statement of Financial Po
To record the investment of Calaguas January 01, 2016
2) Cash P 100,000 Assets
Building 600,000
Mortgage Payable P 400,000 Cash
Dela Cruz, Capital 300,000 Accounts Receivable P
To record the investment of Dela Cruz Less: Allwnce for Unc. Accts
Inventory
Computations: Book Adjusted Equipment
1) Cash P 300,000 P 300,000 Total Assets
Land 280,000 450,000
Calaguas, Capital P 750,000 Liabilities and Owner's Equ
Book Adjusted
2)https://www.coursehero.com/file/27685064/docdownloadercom-basic-accounting-assignmentpdf/ Land P 100,000 P 100,000 Accounts Payable
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Building 520,000 600,000 Espanol, Capital
Notes Payable (400,000) (400,000) Quino, Capital
Dela Cruz, Capital P 300,000 Total Liabilities and Owners'
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