Question
how to know the debit investment in joint operation A Ltd, B Ltd and C Ltd formed a joint operdion on The initial contribution was
how to know the debit investment in joint operation
A Ltd, B Ltd and C Ltd formed a joint operdion on The initial contribution was as follows: July 201B. Each operator has a one third irterest in the joirfr operation. Joint operator Ltd S Ltd C Ltd Asset contributed Cash Equipment Fair value 312,000 312,000 312,000 Carrying amount 312,000 Ccst 312,000 315,000 316,000 Prior to the estab'ishment of the joint operation, both S Ltd and C Ltd recognised PPE under the cost method A Ltd is the joint operation manager and receives management fee of SIS,C'OO per year When recording the initial contribution, 3 Ltd will debit investment in joint operation by:
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Accounting Information Systems
Authors: Cynthia D Heagy, Constance M Lehmann
7th Edition
1111219516, 978-1111219512
