NEED HELP
1) A BOUGHT GOODS OF THE VALUE OF rs 10000 AND CONSIGNED THEM B TO BE SOLD BY THEM ON A JOINTVENTURE, PROFITS BEING DIVIDED EQUALLY, A PAID Rs 1000 FOR FREIGHT AND INSURANCE. A DRAWS BILL ON B FOR Rs. 10000. A GOT IT DISCOUNTED AT Rs. 9500. B SOLD THE GOODS FOR Rs. 15000. COMMISSION PAYABLE TO B, Rs 500. FIND OUT THE PROFIT ON VENTURE?
2) A AND B WERE PARTNERS IN A JOINT VENTURE SHARING PROFITS AND LOSESS IN THE PROPORTION OF 3/5th AND 2/5th RESPECTIVELY. A SUPPLIES GOODS TO THE VALUE OF RS.60000 AND INCURS EXPENSES AMT Rs. 6000. B SUPPLIES GOODS TO THE VALUE OF Rs 16000 AND HIS EXPENSES AMT TO Rs 3000. B SELLS GOODS ON BEHALF OF THE JOINT AND REALIZES RS 120000. B ENTITLED TA A COMMISSION OF 5% ON SALES. B SETTLES HIS ACCOUNT BY BANK DRAFT. HOW MUCH AMT, B WILL PAY TO A AS FINAL SETTLEMENT?
PLS LET ME KNOW WITH CLEAR PICTURE, HOW IT WILL ARRIVE..
CAclubindia
