Problem 1 The statement of financial position of the partnership of Rivas and Briones as of December 31, 2021 is as follows: Juan and Peter Statement of Financial Position December 31, 2022 Assets Liabilities and Capital Cash 20,000 Liabilities 132,000 Other Assets 200,000 Juan, Loan 18,000 Peter, Loan Juan, Capital Peter, Capital Total Liabilities and Capital 20,000 40,000 10,000 Total Assets 220,000 220,000

Problem 1 The statement of financial position of the partnership of Rivas and Briones as of December 31, 2021 is as follows: Juan and Peter Statement of Financial Position December 31, 2022 Assets Liabilities and Capital Cash 20,000 Liabilities 132,000 Other Assets 200,000 Juan, Loan 18,000 Peter, Loan Juan, Capital Peter, Capital Total Liabilities and Capital 20,000 40,000 10,000 Total Assets 220,000 220,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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