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

How much is the cash settlement to B?
a. ₱ 80 receipt
b. ₱ 80 payment
c. ₱ 32 receipt
d. ₱ 76 receipt
Use the following information for the next two questions:

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A, B and C formed a joint operation for the sale of assorted fruits during the Christmas season. Their
transactions during the two-month period are summarized below:
Join
t
ope
rati
on
Nov
. 5
Merchan
dise-A
8,500 Nov.
15
Cash
sales-C
20,40
0
12 Merchan
dise-B
7,000 18 Cash
sales-C
4,200
14 Freight-
in-C
200 30 Merchan
dise-B
1,210
Dec.
10
Purchase
s-C
3,500 Dec.
25
Unsold
mdse.
charged
to A
540
22 Selling
expenses-
C
550
The joint arrangement provided for the division of gains and losses among A, B and C in the ratio of
2:3:5. 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 contribute
₱ 25,000 each to be used in purchasing the merchandise, share equally in any gain or loss, and record
their joint operation transactions in their individual books. After one year, they decided to terminate
the joint operation, and data from their records were:
A B
Joint operation
18,000
Cr.
20,200
Cr.
Expenses paid from JO cash 1,850 2,600
Value of inventory taken 1,000 1,800
How much is the joint operation sales?
How much is the joint operation profit?
a. 32,880 b. 34,650 c. 41,000 d. 42,750
LL, MM and NN formed a joint operation to purchase a piece of lot and to erect an apartment
building for sale. LL is to manage the joint operation; hence, he will receive a bonus of 10% of the
joint operation’s gain before deducting the bonus as an expense. Any remaining gain or loss is to be

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divided equally among the participants. The joint operation is completed on August 31, 20x1. On this
date, the accounts of MM and NN show the following balances:
Books of
MM NN
Account with
LL
16,000 Cr.
16,000
Cr.
Account with
MM
32,000
Cr.
Account with
NN 18,000 Dr.
There are unused constructions supplies which LL agreed to take over at its cost of ₱ 42,000.Final
settlement with the joint operators will require payments as follows:
LL pays NN ₱ 11, 200, and MM pays NN ₱ 14, 000.
LL pays NN ₱ 25, 600, and MM ₱ 14, 400.
LL pays MM ₱ 14, 400, and NN pays LL ₱ 30,800.
LL pays MM ₱ 35,600, and NN pays LL ₱ 14,400.
The following are the transactions of a joint operation formed by A, B and C during a year:
A contributed cash of ₱ 100 and merchandise costing ₱ 200.
B contributed merchandise costing ₱ 400. Freight-in paid by B is ₱ 20.
C made purchases amounting to ₱ 100 using the cash contributed by A.
C paid expenses of ₱ 200 using its own cash.
C made total sales of ₱ 800. 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 a ₱ 30 salary
plus bonus of 25% on profit after salary and bonus.
Interest of 10% per annum is allowed to A and B’s capital contributions.