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1. Liza, Marie and Nena formed a joint venture. At the end of 2008, the venture had cash of P1,344,000, unsold inventory of P291,200, and capital balances of P84,000 for Marie and P756,000 for Nena. Assuming a profit of P140,000, the joint venture account balance would be P431,200. Assuming a loss of P28,000, the balance would be P151,200. 2. Ana, Bea and Carina formed a joint venture. After three months, the balances were P18,000 for Bea, P72,000 for Carina, and P324,000 for the venture

Author

Joshua Wacangan

Language

EN