A and B formed a joint operation. The following were the transactions during the year: A B Total purchases Total sales 400 320 480 240 Expenses paid 800 Other income 40 The joint operation was completed at the end of the year. Each joint operator is entitled to a 10% commission on its purchases and a 20% commission on its sales. Any remaining profit or loss is divided equally. How much is the profit (loss) of the joint operation?
A and B formed a joint operation. The following were the transactions during the year: A B Total purchases Total sales 400 320 480 240 Expenses paid 800 Other income 40 The joint operation was completed at the end of the year. Each joint operator is entitled to a 10% commission on its purchases and a 20% commission on its sales. Any remaining profit or loss is divided equally. How much is the profit (loss) of the joint operation?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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a. -840
b. 840
c. -760
d. 760
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