Accounts help needed

Gaurav Mohnani (OWNER) (536 Points)

22 June 2012  

 

Tinku & Bunty entered into Joint Venture to
share profits and losses in the ratio of 2 :1.
Tinku supplied 200 refrigerators costing
Rs.2,00,000 to Bunty, incurring freight charges
of Rs.10,000. Bunty sold 190 refrigerators for
Rs.2,40,000 and took over the remaining 10
refrigerators for himself. The result of Joint
venture =?
a) Loss Rs. 40,000 b) Profit Rs. 30,000
c) Profit Rs. 40,000 d) Profit Rs. 40,500