Exercise 2-3

2. (a) Cash 208,000

Accounts Receivable 460,000
Merchandise Inventory 1,600,000
Prepaid Exoense 72,000
Allowance for Uncollectible Accounts
Accounts Payable
Amores, Capital

(b) Cash 1,717,000

Andrada, Capital
 Amores and A
Statement of

25,000
598,000 Cash
1,717,000 Accounts Receivable
Less: Allowance for Uncollectible Accounts
Merchandise Inventory
Prepaid Expense
1,717,000 Total Assets

Accounts Payable
Amores, Capital
Andrada, Capital
Total Liabilities and Capital
 Amores and Andrada Company
Statement of Financial Position
January 1, 2009

Assets

1,925,000
460,000
r Uncollectible Accounts 25,000 435,000
1,600,000
72,000
4,032,000

Liabilities and Capital

598,000
1,717,000
1,717,000 3,434,000
4,032,000
Problem 2-1

1. (a) Merchandise, Inventory 50,000

Acosta, Capital

(b) Acosta, Capital 75,000

Allowance for Uncollectible Accounts

(c) Interest Receivable 3,750

Acosta, Capital

(d) Acosta, Capital 18,750

Interest Payable

(e) Accumulated Depreciation 450,000

Acosta, Capital 150,000
Furniture and Fixtures

(f) Office Supplies 15,000

Acosta, Capital

(g) Cash 1,262,500

Aguas, Capital
 50,000

75,000
Cash
Notes Receivable
3,750 Accounts Receivable
Less Allowance for Uncollectible Accounts
Interest Receivable
18,750 Merchandise Inventory
Office Supplies
Furniture and Fixtures
Total Assets
600,000

15,000 Notes Payable

Accounts Payable
Interest Payable
1,262,500 Total Liabilities

Acosta, Capital
Aguas, Capital
Total Capital
Total Liabilities and Capital
 Acosta and Aguas
Statement of Financial Position
December 1, 2014

Assets

1,862,500
375,000
2,250,000
for Uncollectible Accounts 225,000 2,025,000
3,750
650,000
15,000
1,200,000
6,131,250

Liabilities and Capital

750,000
1,575,000
18,750
2,343,750

2,525,000
1,262,500
3,787,500
6,131,250