Scribd Logo
Upload

Welcome to Scribd!

  • Advanced Accounting 1 Guerero

    Uploaded by

    Shao Li
    7 views495 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    7 views495 pages

    Advanced Accounting 1 Guerero

    Uploaded by

    Shao Li

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 495
    Advanced Accounting A PROCEDURAL APPROACH Volume 1 PEDRO P. GUERRERO, BSC,C PA CPA Reviewer CPAReview School of the Philippines (CPAR) JOSE F. PERALTA, BBA , MBA , CPA President and CPA Reviewer Philippine School of Business Administration 2013 EDITION Copyright 1979 2013 By PEDRO P. GUERRERO JOSE F. PERALTA Any copy of this book not bearing the signature of the Author on this page is una: be considered as preceding from an ISBN 978-971-9919.38-4 Printed and Distributed by GICENTERPRISES & CO., INC. 2019 C. M. Recto Avenue Manila ‘This 2013 Edition of Advanced Accounting contains 2 volumes, and is designed for financial accounting courses above the intermediate level. The 2013 edition has been updated to reflect Fecent business developments and changes in accounting standards, especially the coverage of partnership admission with revaluation of assets and goodwill recognition, joint arrangement (PFRS 11), consolidated financial statements (PFRS 10). ‘This edition continues to provide a strong presentation of advanced accounting topics, clear discussion, and integrated coverage based on continuous case examples. The texts highly illustrated ‘vith complete presentation of worksheets, schedules, and financial statements so that students tan see the development of each topic. Inclusion of all recent Philippine Accounting Standards provides a current text for students preparing for the CPA Examination and current practices. The key strengths ofthis bookare the clear and readable discussions of concepts and the procedural dllustration of these concepts through illustrations and explanations. The many favorable responses to earlier editions from both students and instructors confirm our belief that clear presentation and procedural illustrations are essential to learning the sophisticated topics in an advanced accounting course. ‘Alarge number of multiple choices, both theoretical and computational, and problems at the end of ‘each chapter are added to provide the ‘opportunity to solidify understanding of the chapter material fand assess mastery of the subject matter. The end-of-chapter materials progress from simple exercises to more complex problerils. PEDROP.GUERRERO JOSE F. PERALTA Chapter 1 Partnership: Basic Considerations and Formation Definition of a Partnership Characteristics of a Partnership Entity versus Proprietorship Theories Partnership Agreement Partner's Ledger Accounts Www ‘Accounting for the Formation of a Partnership Partnership Formation for the First Time Initial investments Bonus or Goodwill on Initial Investments Sole Proprietorship and Another Individual Form @ Partnership Two Proprietors Form a Partnership Key Observation from the Iilustrations Multiple Choices - Theoretical 19 Multiple choices - Computational B Problems 4 Chapter 2 Partnership Operations Division of Profits and Losses Mlustration of Profit Distribution 0 Financial Statements for a Partnership Changes in the Profit and Loss Ratio Correction of Partnership Net Income of Prior Period Multiple Choices — Theoretical Multiple Choices — Computational Problems gaa Baa 8 49 Chapter 3 Partnership Dissolution — Changes in Ownership Admission of a New Partner Purchase of Interest from One or More Partners ‘New Partner Invests in Partnership Profit and Loss Ratios and Capital Ratios are Different ining a New Partner's Investment Cost Retirement ofa Partner Death of a Partner Incorporation of a Partnership Multiple Choices — Theoretical BI Multiple Choices — Computational 135 Problems 15S Chapter 4 Partnerships: Liquidation Accounting Problems in Partnership Liquidation Methods of Partnership Liquidation Lump-Sum Liquidation Realization of Assets Expenses of Liquidation Liquidation Procedures Mlustration of Lump-Sum Liquidation ‘Multiple Choices — Theoretical 178 Multiple Choices - Computational 181 Problems 193 Chapter 5 Partnerships: Liquidation by Installment Procedures for Liquidation by Installment Periodic Computation of Safe Payments to Partners Illustration of Installment Liquidation Cash Withheld Comprehensive Illustrative Problem Preparation of a Cash Distribution Program Multiple Choices ~ Theoretical Multiple Choices - Computational Problems B88 vi 108 109 121 121 168 168 168 169 12 125 126 16 168 168 201 213 213 216 107, 167 201 Chapter 6 Joint Arrangements (PFRS 11) Contractual Arrangements Joint Control Classification of Joint Arrangements Joint Operations Joint Venture ‘Structure of Joint Arrangements Joint arrangements not structured

    You might also like