A Co. and B Co. are joint venturers of C.Co, a producer of high tech machinery. A and B, each have 50% interest in the net assets of C. During the year, A earns revenue of P1,000,000 from its own operations while B reports revenue of P400,000. How much total revenue shall be reported in A Co.'s statement of profit or loss for the year? * Your answer
A Co. and B Co. are joint venturers of C.Co, a producer of high tech machinery. A and B, each have 50% interest in the net assets of C. During the year, A earns revenue of P1,000,000 from its own operations while B reports revenue of P400,000. How much total revenue shall be reported in A Co.'s statement of profit or loss for the year? * Your answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A Co. and B Co. are joint venturers of C.Co,
a producer of high tech machinery. A and B,
each have 50% interest in the net assets of
C. During the year, A earns revenue of
P1,000,000 from its own operations while B
reports revenue of P400,000. How much
total revenue shall be reported in A Co.'s
statement of profit or loss for the year? *
Your answer
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