Three Joint Operators Are Involved in a Joint Operation That

question 26

Multiple Choice

Three joint operators are involved in a joint operation that manufactures mining equipment. At the beginning of the year the joint operation held $100 000 in cash. During the year, the joint operation paid wages of $40 000. Additionally, creditors amounting to $80 000 were paid and the joint operators contributed $30 000 cash each to the joint operation. The balance of cash held by the joint operation at the end of the year is:

• A) $10 000.
• B) $50 000.
• C) $70 000.
• D) $150 000.