Antonio dayag solution manual

Solution to Chapter Noted that this is also applicable to latest editions to Solution Manuals are actual copy of answer key given by the author to the professors, which are used by the professors to check your assignments, quizzes, exams, and others. Get advanced accounting 2 dayag solution manual free download PDF file for free PDF file: advanced accounting 2 dayag solution manual free download Page: 2 3. Advanced Accounting 1 Dayag Solution Manual You can get any ebooks you wanted like Advanced Accounting 1 Dayag Solution Manual Printable in simple step and you can save it now.

Familiar in its structure and treatment of basic concepts, this seventh edition has been thoroughly Advanced Financial Accounting Volume 2 Dayag Solution Manual. On this page you can read or download advanced financial accounting and reporting part 1 solution manual dayag in PDF format. Dayag Chapter 1 Problem I Requirement 1: Assuming that A and B agree that each partner is to receive a capital credit equal to the agreed values of the net assets each partner invested:. However, the capital accounts are equalized by recognizing an intangible asset and a corresponding increase in the capital accounts of the partners.

Unless the intangible asset can be specifically identified, such as a patent being invested, it should not be recognized, because of a lack of justification for goodwill in a new business. Problem III 1. Books of Sole Proprietor H : a. To record adjustments: a. H, capital………………………………………………………………… 1, Allowance for doubtful accounts……………………………. Interest receivable or accrued interest income…………………. H, capital…………………………………………………………………..

H, capital…………………………………………………………………. Prepaid expenses……………………………………………………… H, capital…………………………………………………………………… 7, Accrued expenses…………………………………………………. Note: All adjustment that reflects nominal accounts should be coursed through the capital account, since all nominal accounts are already closed at the time of formation.

To close the books: nothing to close since the books of H will be retained. To record investment: Cash……………………………………………………………………………. Doubtful accounts Interest income…………………………….. Decline in the value of merchandise…. Prepaid expenses………………………….. P , Multiplied by: Capital interest of I…………….. No further entry is required since there are no additional investments or withdrawals made by H. P 72, Less: Accumulated depreciation……………… P , Liabilities and Capital Liabilities Accrued expenses……..

P 7, Accounts payable P 79, Capital H, capital……………………… P , I, capital………………… P , Total Liabilities and Capital P , Problem V New set of books. Books of Sole Proprietor a. To record adjustments: Books of J Books of K a. J, capital…………………………12, a. Merchandise Inventory………… 6, Merchandise Inventory…… 12, K, capital……………………… 6, Worthless inventory. Upward revaluation. J, capital………………………… 7, b. K, capital………. Additional provision. P9, Less: Previous Balance………..

Rent receivable…………………12, c. K, capital……………………………. Unpaid salaries. Interest receivable…………………1, K, capital………… J, capital………………………… 8, Office supplies………………. J, capital………………………… 6, Accumulated depreciation - equipment……………… 6, Under-depreciated. K, capital……………………………12, Accumulated depreciation- Furniture and fixtures……… 12, Under-depreciated. J, capital…………………………. Unadjusted capital of J……. P , Unadjusted capital of K.. P, Add deduct : adjustments: Add deduct : adjustments: a.