Chapter 11 FAR Millan PDF

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Summary

Chapter 11:Problem 1 FALSE FALSE TRUE FALSE TRUE FALSE TRUE FALSE TRUE TRUE Problem 3 Date Cash Inventory Land Equipment Mortgage Payable Mr. A, Capital Ms. B, Capital530,10,600,600,100,1,100,540,2.Date Cash Equipment A, Capital B, Capital600,400,300,700, Requirement (a) A B C Partnership Cash 600,0...

Description

Chapter 11: Problem 1 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

FALSE FALSE TRUE FALSE TRUE FALSE TRUE FALSE TRUE TRUE

Problem 3 1. Date

530,000 10,000 600,000 600,000

Cash Inventory Land Equipment Mortgage Payable Mr. A, Capital Ms. B, Capital

100,000 1,100,000 540,000

2. Date

600,000 400,000

Cash Equipment A, Capital B, Capital

300,000 700,000

3. Requirement (a)

Cash Accounts receivable Inventories Accounts payable

A 600,000 700,000

B 800,000

C 400,000 900,000 (300,000)

Partnership 1,800,000 700,000 900,000 (300,000)

Building Net Contributions Equal Interests Cash receipt (payment)

1,300,000 1,500,000 (200,000)

1,400,000 2,200,000 1,500,000 700,000

1,000,000 1,500,000 (500,000)

1,400,000 4,500,000 4,500,000

a. Partners A and C must pay 200,000 and 500,000 to Partner B, respectively.

Requirement (b): Cash Accounts receivable Inventories Building Accounts payable A, Capital B, Capital C, Capital

1,800,000 700,000 900,000 1,400,00 300,000 1,500,000 1,500,000 1,500,000

4. Requirement

Actual contributions Required Capital Balances Additional (withdrawal)

A 1,300,000 1,500,000

B 2,200,000 1,500,000

C 1,000,000 1,500,000

200,000

(700,000)

500,000

Totals 4,500,000 4,500,000

Partner A and C shall make additional investments of 200,000 and 500,000, respectively while Partner B shall withdraw 700,000 from his initial contribution.

Problem 4 1. 2. 3. 4. 5. 6.

C C B B A B...