e tranRST GThe following joint operations account reflects the transactions of the arrangement ofABC, DEF, GHI as recorded by each operator.Merchandise-DEFPurchase-ABCMerchandise -GHISelling Expense-ABCFreight-ABCSAPSOSAINT COJOINT OPERATION1,912,500 4,590,000787,500 272,250Cash Sales- ABCMerchandise-DEF1,575,000 945,000 Cash Sales- ABC90,00078,750It was agreed that profit or losses are to be as follows 20%,30% and 50% for ABC, DEFand GHI respectively. Compute for the amount to be received by DEF in the finalsettlement.1911

Given data: Profit or (loss) sharing ratio between ABC, DEF & GHI is 20%, 30% & 50%…

The following joint operations account reflects the transactions of the arrangement of ABC, DEF, GHI as recorded by each operator. Merchandise-DEF Purchase-ABC Merchandise -GHI Selling Expense-ABC Freight-ABC INVS SAPL JOINT OPERATION VERSIONES 1,912,500 4,590,000 787,500 272,250 1,575,000 945,000 90,000 78,750 Cash Sales- ABC Merchandise-DEF Cash Sales- ABC It was agreed that profit or losses are to be as follows 20%,30% and 50% for ABC, DEF and GHI respectively. Compute for the amount to be received by DEF in the final settlement. 1911

The following joint operations account reflects the transactions of the arrangement of ABC, DEF, GHI as recorded by each operator. Merchandise-DEF Purchase-ABC Merchandise -GHI Selling Expense-ABC Freight-ABC INVS SAPL JOINT OPERATION VERSIONES 1,912,500 4,590,000 787,500 272,250 1,575,000 945,000 90,000 78,750 Cash Sales- ABC Merchandise-DEF Cash Sales- ABC It was agreed that profit or losses are to be as follows 20%,30% and 50% for ABC, DEF and GHI respectively. Compute for the amount to be received by DEF in the final settlement. 1911

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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