A, B and C formed a joint operation. Profit or loss shall be divided equally. On the joint operation’s completion date, the books of A, the appointed manager, show the following account balances: Debit Credit JO – Cash 80 Joint operation 20 B Co. 60 C Co. 40 A’s share in the joint operation’s profit is ₱16. A agreed to be charged for the unsold merchandise. How much is the cost of unsold merchandise charged to A? ___________________________

A, B and C formed a joint operation. Profit or loss shall be divided equally. On the joint operation’s completion date, the books of A, the appointed manager, show the following account balances: Debit Credit JO – Cash 80 Joint operation 20 B Co. 60 C Co. 40 A’s share in the joint operation’s profit is ₱16. A agreed to be charged for the unsold merchandise. How much is the cost of unsold merchandise charged to A? ___________________________

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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