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/12 In the final settlement, how much would D receive?4 26 a. P651,250 b. P368,000 c. P815,750 d. P601,250 545, 000 X . 186,310 395,000 2/5 221

/12 In the final settlement, how much would D receive?4 26 a. P651,250 b. P368,000 c. P815,750 d. P601,250 545, 000 X . 186,310 395,000 2/5 221

FINANCIAL ACCOUNTING
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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CHAPT ER 6: J OINT ARRANGEMENTS MULTIPLE CHOICE (PROBLEM SOLVING) 1. D, E and F formed a joint venture to sell personalized shirts during the campaign period. Their transactions during the two-month period are summarized below in the books of F being the manager is used by the joint venture: January 12 Investment of merchandise by D P595,000 14 Investment of cash by E 225,000 17 Investment of cash by F 150,000 19 Investment of merchandise by E 490,000 20 Freight-in 45,000 20 Cash sales 1,425,000 21 Cash sales 390,000 29 Withdrawal of merchandise by E 90,000 February Purchases 245,000 10 Withdrawal of cash by D 80,000 21 Selling expenses 35,000 28 Unsold merchandise charged to D 50,000 The contractual arrangements include distribution of gains and losses as follows: D-25%, E- 35% and F-40%. The venture is completed and terminated on February 28, 2022. 12 595,000 ?19 490,000 45,666 In the final settlement, how much would D receive? a. P651,250 545,000 X 186,310 P368,000 c. P815,750 d. P601,250 25 2/5 246,000 2/21 39.000 с. 1,410,000 2. R, S and T formed a joint venture on June 2, 2022 to sell particula
Transcribed Image Text:CHAPT ER 6: J OINT ARRANGEMENTS MULTIPLE CHOICE (PROBLEM SOLVING) 1. D, E and F formed a joint venture to sell personalized shirts during the campaign period. Their transactions during the two-month period are summarized below in the books of F being the manager is used by the joint venture: January 12 Investment of merchandise by D P595,000 14 Investment of cash by E 225,000 17 Investment of cash by F 150,000 19 Investment of merchandise by E 490,000 20 Freight-in 45,000 20 Cash sales 1,425,000 21 Cash sales 390,000 29 Withdrawal of merchandise by E 90,000 February Purchases 245,000 10 Withdrawal of cash by D 80,000 21 Selling expenses 35,000 28 Unsold merchandise charged to D 50,000 The contractual arrangements include distribution of gains and losses as follows: D-25%, E- 35% and F-40%. The venture is completed and terminated on February 28, 2022. 12 595,000 ?19 490,000 45,666 In the final settlement, how much would D receive? a. P651,250 545,000 X 186,310 P368,000 c. P815,750 d. P601,250 25 2/5 246,000 2/21 39.000 с. 1,410,000 2. R, S and T formed a joint venture on June 2, 2022 to sell particula
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