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Philips Has a 50% Joint Operation Interest in Josef A)$200
B)$550
C)$750
D)$1,150

question 110

Multiple Choice

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?  Philips  Josef  Revenue 1,0002,000 Income from Josef 200 Expenses 4501,600 Net income 750400\begin{array} { | l | r | r | } \hline & \text { Philips } & \text { Josef } \\\hline \text { Revenue } & 1,000 & 2,000 \\\hline \text { Income from Josef } & 200 & \\\hline \text { Expenses } & 450 & 1,600 \\\hline \text { Net income } & 750 & 400 \\\hline\end{array}

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Definitions:

Block Transactions

Large-scale securities trades on stock markets, usually involving at least 10,000 shares or bonds.

NYSE

The New York Stock Exchange, one of the world's largest stock exchanges by market capitalization, located in New York City.

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Short Sellers

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