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How much is the cash settlement to b a 80 receipt b

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How much is the cash settlement to B?a.80 receiptb.80 paymentc.32 receiptd.76 receipt
Use the following information for the next two questions:
P a g e|9A, B and C formed a joint operation for the sale of assorted fruits during the Christmas season. Theirtransactions during the two-month period are summarized below:JointoperationNov. 5Merchandise-A8,500Nov.15Cashsales-C20,40012Merchandise-B7,00018Cashsales-C4,20014Freight-in-C20030Merchandise-B1,210Dec.10Purchases-C3,500Dec.25Unsoldmdse.chargedto A54022Sellingexpenses-C550The joint arrangement provided for the division of gains and losses among A, B and C in the ratio of2:3:5. The joint operation is to close on December 31, 2008.What is the joint operation profit?
What is the amount of cash that A will receive on final settlement?
Use the following information for the next two questions:A and B agreed on a joint operation to purchase and sell car accessories. They agreed to contribute25,000 each to be used in purchasing the merchandise, share equally in any gain or loss, and recordtheir joint operation transactions in their individual books. After one year, they decided to terminatethe joint operation, and data from their records were:ABJoint operation18,000Cr.20,200Cr.Expensespaid from JO cash1,8502,600Value of inventory taken1,0001,800How much is the joint operation sales?
How much is the joint operation profit?a. 32,880b. 34,650c. 41,000d. 42,750LL, MM and NN formed a joint operation to purchase a piece of lot and to erect an apartmentbuilding for sale. LL is to manage the joint operation; hence, he will receive a bonus of 10% of thejoint operation’s gain before deducting the bonus as an expense. Any remaining gain or loss is to be
P a g e|10divided equally among the participants. The joint operation is completed on August 31, 20x1. On thisdate, the accounts of MM and NN show the following balances:Books ofMMNNAccount withLL16,000 Cr.16,000Cr.Account withMM32,000Cr.Account withNN18,000 Dr.There are unused constructions supplies which LL agreed to take over at its cost of42,000.Finalsettlement with the joint operators will require payments as follows:LL pays NN11, 200, and MM pays NN14, 000.LL pays NN25, 600, and MM14, 400.LL pays MM14, 400, and NN pays LL30,800.LL pays MM35,600, and NN pays LL14,400.The following are the transactions of a joint operation formed by A, B and C during a year:A contributed cash of100 and merchandise costing200.B contributed merchandise costing400. Freight-in paid by B is20.C made purchases amounting to100 using the cash contributed by A.C paid expenses of200 using its own cash.C made total sales of800. All the merchandise was sold except one-half of those contributed by B.C is appointed as the manager of the joint operation. As compensation, C is entitled to a30 salaryplus bonus of 25% on profit after salary and bonus.Interest of 10% per annum is allowed to A and B’s capital contributions.

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Term
Fall
Professor
N/A
Tags
Balance Sheet, Managing Partner

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