Tech Co. and Robotics Co. are joint operators in the development of Super OS, a mobile phone operating system. Each joint operator retains control over the assets contributed to the join operation and share equally in the profits and losses of the joint operation. During the year, Tech Co. earns revenue of P1,000,000 from its own operations. Sales of Super OS amount to P400,000 How much total revenue shall be reported in Tech Co.'s statement of profit or loss for the year? c. P1,400,000 a. P1,000,000 b. P1,200,000 d. Either a or b

Tech Co. and Robotics Co. are joint operators in the development of Super OS, a mobile phone operating system. Each joint operator retains control over the assets contributed to the join operation and share equally in the profits and losses of the joint operation. During the year, Tech Co. earns revenue of P1,000,000 from its own operations. Sales of Super OS amount to P400,000 How much total revenue shall be reported in Tech Co.'s statement of profit or loss for the year? c. P1,400,000 a. P1,000,000 b. P1,200,000 d. Either a or b

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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