PROBLEM 5-1
Answers:
1. Delfin, Capital
Cash
200,000
200,000
2. Bonus Method:
Delfin, Capital
200,000
Diokno, Capital
30,000
Decena, Capital
30,000
Cash
260,000
3. Asset Revaluation Method:
Other Assets
Delfin, Capital
Cash
Diokno, Capital
Decena, Capital
180,000
200,000
260,000
60,000
60,000
4. Bonus Method:
Delfin, Capital
Cash
Diokno, Capital
Decena, Capital
200,000
160,000
20,000
20,000
5. Asset Revaluation Method
Diokno, Capital
Decena, Capital
Delfin, Capital
Cash
Other Assets
25,000
25,000
200,000
175,000
75,000