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How much is the shares of m

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M and N join a joint partnership for the sale of certain merchandise. The joint operators agree to the following: M shall be allowed a commission of 10% on his net purchases; the joint operators shall be allowed commissions of the 25% on their respective sales; and M and N shall divide the profit or loss 60% and 40% respectively.

Joint arrangements transactions follow:

Dec. 1: M make cash purchase of 57,000.00

Dec. 3: N pays joint arrangement expenses of 9,000.00

Dec. 5: Sales are as follows: M, 48,000; N, P36,000. The participants keep their own cash receipts

Dec. 7: M returns unsold merchandise and receives 15,000 cash.

Dec. 15: The participants make cash settlement.

Question 1: In the distribution of the balance in net profit of the joint arrangement, how much is the shares of M?

Reference no: EM132584471

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