26. A, B, and C formed a joint operation which was completed during the year. The accounts of the joint operators show the following balances: Books of A Books of C Books of B Account with A 10 Dr. 10 Dr. Account with B 16 Dr. 16 Dr. Account with C 26 Cr. 26 Cr. On the cash settlement between the joint operators, a. Band C pays A P16 and P10, respectively, for a total of P26 payment to A. b. A and B pays C P10 and P16, respectively, for a total of P26 payment to C. c. Cpays A and B P10 and P16, respectively. d. A, B and C pays D.
26. A, B, and C formed a joint operation which was completed during the year. The accounts of the joint operators show the following balances: Books of A Books of C Books of B Account with A 10 Dr. 10 Dr. Account with B 16 Dr. 16 Dr. Account with C 26 Cr. 26 Cr. On the cash settlement between the joint operators, a. Band C pays A P16 and P10, respectively, for a total of P26 payment to A. b. A and B pays C P10 and P16, respectively, for a total of P26 payment to C. c. Cpays A and B P10 and P16, respectively. d. A, B and C pays D.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:26. A, B, and C formed a joint operation which was completed during the year. The accounts of the
joint operators show the following balances:
Books of A
Books of B
Books of C
Account with A
10 Dr.
10 Dr.
Account with B
16 Dr.
16 Dr.
Account with C
26 Cr.
26 Cr.
On the cash settlement between the joint operators,
a. Band C pays A P16 and P10, respectively, for a total of P26 payment to A.
b. A and B pays C P10 and P16, respectively, for a total of P26 payment to C.
c. Cpays A and B P10 and P16, respectively.
d. A, B and C pays D.
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