Denver Co. and Colorado Co. are joint operators in the production of VOS printers. Each joint operator retains control over the assets it has contributed to the joint operation and shares equally in the profits and losses of the joint operation. During the year Denver Co. earns revenue of P8,000,000 from its own operations. Sales of VOS printers amounts to P3,000,000. How much total revenue shall be reported in Denver Co.'s statement of profit or loss for the year? A. P8,000,000 B. P9,500,000 C. P11,000,000 D. P5,500,000

Denver Co. and Colorado Co. are joint operators in the production of VOS printers. Each joint operator retains control over the assets it has contributed to the joint operation and shares equally in the profits and losses of the joint operation. During the year Denver Co. earns revenue of P8,000,000 from its own operations. Sales of VOS printers amounts to P3,000,000. How much total revenue shall be reported in Denver Co.'s statement of profit or loss for the year? A. P8,000,000 B. P9,500,000 C. P11,000,000 D. P5,500,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter11: Invest Or Losses

Section: Chapter Questions

Problem 29CE

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Denver Co. and Colorado Co. are joint operators in the production of VOS printers. Each joint operator retains control over the assets it has contributed to the joint operation and shares equally in the profits and losses of the joint operation. During the year Denver Co. earns revenue of P8,000,000 from its own operations. Sales of VOS printers amounts to P3,000,000. How much total revenue shall be reported in Denver Co.'s statement of profit or loss for the year?
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