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.

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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