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What is the amount of cash that A will receive on final settlement? a. 1,212 b. 9,280 C. 9,712 d. 8,500 A, B and C
What is the amount of cash that A will receive on final settlement? a. 1,212 b. 9,280 C. 9,712 d. 8,500 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: Joint operation Nov. 5 Merchandise-A 8,500 Nov. 15 Cash sales- 20,400 12 Merchandise-B 7,000 18 Cash sales-C 4,200 14 Freight-in C 200 30 Merchandise B 1,210 Dec 10 Purchases-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 amount of cash that A will receive on final settlement
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