Reference no: EM132857322
Question - In almost five years of operation, the sole proprietorship of Riza shows the following balances as of March 1, 2019.
Cash 340,000
Accounts receivable 440,000
Allowance for doubtful accounts 17,600
Merchandise Inventory 1,040,000
Prepaid Expenses 60,000
Furniture and fixtures 1,200,000
Accumulated Depreciation 240,000
Accounts Payable 360,000
Notes Payable 120,000
Riza, Capital 2,342,400
Riza invited Belen to join her in the business and form a partnership. They agreed to divide the profits and losses based on their capital contributions. Belen will invest merchandise valued at P480,000 and cash enough to give her 40% interest in the partnership after making the following adjustments on the books of Riza:
1. The merchandise inventory is valued at P1,060,000.
2. The expired prepaid expenses amount to P7,200.
3. The fair market value of furniture and fixtures amounts to P1,000,000 with an estimated remaining useful life of 8 years.
4. The net realizable value of the accounts receivable amounts to P408,000
The partners further agreed that a new set of books will be used by the partnership.
Required - Answer the following:
1. Compute for the adjusted capital of Riza.
2. Compute for the total capital of Belen.
|
Policy evaluation and production identification
: There is relationship between policy evaluation and production identification, policy evaluation and policy implement and policy evaluation-policy formulation
|
|
Prepare bank reconciliation statement at September
: The bank collected a note receivable for the company for $3,000 plus $100 interest revenue. Prepare bank reconciliation statement at September
|
|
Face to securely backup the workstations
: Discuss some of the challenges that organizations often face to securely backup the workstations. Also two challenges specific to ecommerce organizations.
|
|
Demonstrated operational excellence
: Select an organization that has a Global platform (they operate in more than one country), that has demonstrated operational excellence.
|
|
Compute the adjusted capital of Riza
: The net realizable value of the accounts receivable amounts to P408,000. Compute the adjusted capital of Riza
|
|
Calculate Mr Bond minimum net employment income
: Payment For Personal Use of Company Car 3,600. Calculate Mr. Bond's minimum net employment income for the year ending December 31, 2019
|
|
Reflection of operations security
: Provide a reflection of operations security and how the knowledge, skills, or theories of this course have been applied,
|
|
Design needs to support discounts or promotions
: You will need to create a design to support Products, Orders, Customers and Suppliers. The design needs to support discounts or promotions.
|
|
What is the probability
: What is the probability that more than 20% of the business travelers say that the reason for their most recent business trip was an internal company visit
|