FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Tech Co. and Robotics Co. are joint venturers of Mecha Co., a producer of high tech machinery. Tech and Robotics, each have a 50% interest in the net assets of Mecha Co. During the year, Tech Co. earns revenue of P1,000,000 from its own operations while Mecha Co. reports revenue of P400,000. How much total revenue shall be reported in Tech Co.'s statement of profit or loss for the year? * O a. P1,000,000 b. P1,200,000 O c. P1,400,000 O d. Either a or b
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Transcribed Image Text:Tech Co. and Robotics Co. are joint venturers of Mecha Co., a producer of high tech machinery. Tech and Robotics, each have a 50% interest in the net assets of Mecha Co. During the year, Tech Co. earns revenue of P1,000,000 from its own operations while Mecha Co. reports revenue of P400,000. How much total revenue shall be reported in Tech Co.'s statement of profit or loss for the year? * O a. P1,000,000 b. P1,200,000 O c. P1,400,000 O d. Either a or b
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