John and Paul are participants in a joint operation for the purchase and sales of furniture....

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John and Paul are participants in a joint operation for the purchase and sales of furniture. Purchases amount P1, 160,000 paid equally by John and Paul. They agreed that each will record his purchase, sales, and expenses in his own books and share profits and losses equally. The following data relate to the joint venture: Joint operation account - Cr Expenses paid from joint operation cash John 449,500 Paul 507,500 43,500 The final balance of investment in joint operation (book of John under) equity method is? John and Paul are participants in a joint operation for the purchase and sales of furniture. Purchases amount P1, 160,000 paid equally by John and Paul. They agreed that each will record his purchase, sales, and expenses in his own books and share profits and losses equally. The following data relate to the joint venture: Joint operation account - Cr Expenses paid from joint operation cash John 449,500 Paul 507,500 43,500 The final balance of investment in joint operation (book of John under) equity method is?

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To determine the final balance of the investment in the joint operation using the equity method we n... View the full answer