Solution-How much is the final settlement would t receive

How much is the final settlement would t receive

Reference no: EM132733445

R, S and T formed a joint venture. R is to act as manager and is designated to record the joint venture accounts in his books. As manager, R is allowed to a salary of P120,000; remaining profit or loss is to be divided equally. The following balances appear at the end of 2020 before adjustment for inventory and profits.
The venture is to terminate as of December 31, 2020. Unsold merchandize costing P105,000 are taken over by T. R made the settlement to S and T.

Requirements:

Problem a. How much is the venture income? Explain the answer.

Problem b. How much is the profit share of Re? Explain the answer.

Problem c. How much is the final settlement would T Receive? Explain the answer.

Reference no: EM132733445

Questions Cloud

How much is the cash settlement received by sa and se : How much is the cash settlement received by Sa and Se? Explain the answer. So, Sa, and Se formed a joint venture. So has been designated as manager of venture

How the theory applies to current practice : Create a PowerPoint presentation that addresses each of the following points/questions. Be sure to completely answer all the questions for each bullet point.

What is the science of bioinformatics : What is the science of bioinformatics and how specifically do microbiologist's use this to compare and classify microbes?

What is the present value of these receipts : You receive $1,500 at the end of every year for four years. What is the present value of these receipts if you earn six percent compounded annually

How much is the final settlement would t receive : How much is the profit share of Re? Explain the answer. How much is the final settlement would T Receive? Explain the answer.

What examples can you provide to substantiate your answer : What examples can you provide to substantiate your answer? Do you think these may change in importance during your lifetime? Why or why not?

Solve the per-unit contribution margin of a product : How do Calculate the per-unit contribution margin of a product that has a sale price of $405 if the variable costs per unit are $185.

What is the par value for the preferred stock : Contributed capital: Preferred stock, 8%, 100,000 shares authorized, 50,000 shares issued $2,500,000. What is the Par value for the preferred stock

Discuss what kind of planning that company probably perform : Discuss What kind of planning that company probably performed to be able to successfully start or expand its business.Use, as an example

User Account

All Pages

How much is the final settlement would t receive

Reference no: EM132733445

Reference no: EM132733445

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Discuss dilution of management control

Prepare a master budget for each of the first three months

Analyze the effects of draper draper consultings transaction

Discuss what is the new cost basis of the municipal bonds

Define the post-implementation planning

Market for unskilled labor

Determine the simplified tax system

The management of rockos pizzeria is considering a special

Compute the actual and budgeted contribution margins

Prepare a retained earnings statement for blue company

Dream expects to produce 1000 sewing machines in the month

What is an information system? what are some of the ways

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT