Philips has a 50% joint operation interest in Josef.Based on the following information,what amount will be presented for net income on Philips' proportionately consolidated income statement?

A)$200
B)$550
C)$750
D)$1,150

Name: Philips has a 50% joint operation interest in Josef.Based on the following information,what amount will be presented for net income on Philips' proportionately consolidated income statement? A)$200 B)$550 C)$750 D)$1,150
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Question

Philips has a 50% joint operation interest in Josef.Based on the following information,what amount will be presented for net income on Philips' proportionately consolidated income statement?

A)$200 
B)$550 
C)$750 
D)$1,150

Quizplus · Accepted Answer

C)750 + (50% × 400)- 200 = 750

Philips Has a 50% Joint Operation Interest in Josef