Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the amount due to Bryan upon final settlement? ? B. Bryan, Ryan and Yan formed a joint venture in 2010 to sell computers.
What is the amount due to Bryan upon final settlement?
?B. Bryan, Ryan and Yan formed a joint venture in 2010 to sell computers. They assigned Ryan as the manager of the joint venture. They agreed to divide profits 4:6. They terminated the venture on December 21, 2011 with unsold merchandise. On this date, Ryan's trial balance shows the following account balances before profit distribution: Dr Cr 90,000 23,500 Joint Venture Cash Joint Venture P 32,500 Bryan, Capital Yan, Capital 15,600 wwwwwww Yan received P 6,300 as her share in the joint venture profit. Ryan agreed to be charged for the unsold merchandise as of December 31, 2010.
Step by Step Solution
★★★★★
3.53 Rating (153 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
63604495dbe73_230086.pdf
180 KBs PDF File
63604495dbe73_230086.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started