100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ADVANCED ACCOUNTING GUERRERO PERALTA VOLUME 1 SOLUTION MANUAL LATEST UPDATE $13.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. ADVANCED ACCOUNTING GUERRERO
  4.  
  5. ADVANCED ACCOUNTING GUERRERO

Exam (elaborations)

ADVANCED ACCOUNTING GUERRERO PERALTA VOLUME 1 SOLUTION MANUAL LATEST UPDATE
 9 views  0 purchase
  • Course
  • ADVANCED ACCOUNTING GUERRERO
  • Institution
  • ADVANCED ACCOUNTING GUERRERO

ADVANCED ACCOUNTING GUERRERO PERALTA VOLUME 1 SOLUTION MANUAL LATEST UPDATE ADVANCED ACCOUNTING GUERRERO PERALTA VOLUME 1 SOLUTION MANUAL LATEST UPDATE

Preview 4 out of 336  pages

Document information

  • October 20, 2024
  • 336
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (5)

Written for

  • ADVANCED ACCOUNTING GUERRERO
  • ADVANCED ACCOUNTING GUERRERO

Seller

avatar-seller
nursemoen

Reviews received

Content preview

ADVANCED ACCOUNTING GUERRERO PERALTA
VOLUME 1 SOLUTION MANUAL LATEST UPDATE

CHAPTER 1
MULTIPLE CHOICE ANSWERS AND SOLUTIONS
1-1: A

Jose's Capital Should Be Credited For The Market Value Of The Computer Contributed By Him.

1-2: B

60,000.

1-3: A

Cash

P100,000

Land 300,000

Mortgage Payable ( 50,000)

Net Assets (Julio, Capital) P350,000

1-4: B

Total Capital (P300,000/60%)

P500,000

Perla's Interest 40%

Perla's Capital P200,000

Less:Non-Cash Asset Contributed At Market Value

Land P 70,000

Building 90,000

Mortgage Payable ( 40,000) _120,000

Cash Contribution P 80,000



1-5: D - Zero, Because Under The Bonus Method, A Transfer Of Capital Is Only Required.

,1-6: B

Reyes Santos

Cash P200,000 P300,000

Inventory – 150,000

Building

Equipment – 150,000 400,000

Mortgage Payable ( 100,000)

Net Asset (Capital) P350,000 P750,000

1-7: C

AA

BB

CC

Cash

Property At Market Value P 50,000

P 80,000

Mortgage Payable Equipment At Market Value

( 35,000)



P55,000

Capital P 50,000 P 45,000 P55,000

,Downloaded By Anne Rapanut (Annierapanut@Gmail.Com)



2 Chapter

1



1-8:

A




PP




RR




SS

Cash P 50,000 P 80,000 P 25,000

Computer At Market Value 25,000 60,000

Capital P 75,000 P 80,000 P 85,000

1-9: C

Maria

Nora

, Cash

Merchandise Inventory P 30,000

P 90,000

Computer Equipment 160,000

Liability ( 60,000)

Furniture And Fixtures 200,000

Total Contribution P230,000 P190,000

Total Agreed Capital (P230,000/40%) P575,000

Nora's Interest 60%

Nora's Agreed Capital P345,000

Less: Investment 190,000

Cash To Be Invested P155,000

1-10: D

Roy

Sam

Tim

Cash

Office Equipment Note Payable P140,000

–

– P220,000

_( 60,000) –

–



Net Asset Invested P140,000 P160,000 P –

Agreed Capitals, Equally (P300,000/3) = P100,000

1-11: A

Lara

Mitra

Cash P130,000 P200,000

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller nursemoen. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart