A, B, and C formed a joint operation. On the joint operation’s completion date, the books of A, the appointed manager, show the following account balances: Debit Credit JO – Cash 80 Account with B 60 Accounting with C 88 The cost of unsold inventory is ₱72. The joint operation’s profit is ₱44. How much is the balance of the joint operation account before distribution of profit? __________________________

A, B, and C formed a joint operation. On the joint operation’s completion date, the books of A, the appointed manager, show the following account balances: Debit Credit JO – Cash 80 Account with B 60 Accounting with C 88 The cost of unsold inventory is ₱72. The joint operation’s profit is ₱44. How much is the balance of the joint operation account before distribution of profit? __________________________

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format ? And Fast Answering Please ? And Explain Proper Step by Step.
Entity A, a VAT-registered business in the Philippines, had total sales of $3,000,000 and total purchases of P1,200,000 (both exclusive of VAT) during 20x1 Show all your solutions 1. How much is the Output VAT? 2. How much is the Input VAT?3. How much VAT should Entity A remit to the BIR? 4. What is the journal entry to record the sales? 5. What is the journal entry to record the purchases
I just need Solutions for my review. Thanks.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Sales = $1,000; Cost of Goods Sold = $500; Depreciation Expense = $100; Administrative Expenses = $100; Interest Expense = $20; Marketing Expenses = $80; and Taxes = $100. The Co's operating income (EBIT) is equal to A) $500. B) $400. C) $310. D) $220.
Sales = $1,000; Cost of Goods Sold = $500; Depreciation Expense = $100; Administrative Expenses = $100; Interest Expense = $20; Marketing Expenses = $80; and Taxes = $100. The Co's net income is equal to A) $100. B) $150. C) $220. D) $200.
Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325
May I ask for a solution and explanation to the problem for a better understanding. Thank you! 7. Using Carrot corp., what is the number of times interest earned for year 2? a. 21x b. 22x c. 23x d. 24x
Required:For Minmin Company, how much was allocated to: i. Landii. Buildingiii. Machineryiv. Office equipmentv. Delivery equipment
SHOW COMPLETE SOLUTION PLEASE.
Given the following, how much is total distribution costs? Freight-in: ₱5,000 Freight-out: ₱6,000 Depreciation Expense – Store Equipment: ₱27,723 Depreciation Expense – Office Furniture and Fixtures: ₱19,554 Store Salaries and Wages Expense: ₱122,297 Store Utilities Expense: ₱38,173 Miscellaneous Administrative Expenses: ₱12,412
7. Previous attempt 4. Campus Stop is considering a contract to sell merchandise to a campus organization for $21,000. This merchandise will cost Campus Stop $13,800. What would be the increase or decrease to Campus Stop's gross profit and gross profit percentage? TIP: The impact on gross profit (a dollar amount) may differ from the impact on gross profit percentage. (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit increased by $ Gross Profit Percentage decreased to References eBook & Resources 13,800 You did not re- 34.3 %