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In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goods are purchased for ₹11,200,Expenses amount to ₹200,Sales amount to ₹14,000 the remaining goods were taken by B at an agreed price of ₹400.A and B share profit and losses in the ratio of 1:2 resp.As a final settlement,how much A will receive?
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In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goo...
Final Settlement Calculation for A:
1. Calculation of Total Contribution:
- A's contribution: ₹5,000
- B's contribution: ₹10,000
- Total contribution: ₹5,000 + ₹10,000 = ₹15,000
2. Calculation of Total Expenses:
- Goods purchased: ₹11,200
- Expenses: ₹200
- Total expenses: ₹11,200 + ₹200 = ₹11,400
3. Calculation of Total Sales:
- Sales amount: ₹14,000
- Remaining goods taken by B at ₹400: ₹11,200 - ₹400 = ₹10,800
- Total sales: ₹14,000 + ₹10,800 = ₹24,800
4. Calculation of Profit:
- Total sales - Total expenses: ₹24,800 - ₹11,400 = ₹13,400
- Profit to be shared: ₹13,400
5. Profit Sharing Ratio:
- A:B = 1:2
- A's share of profit: (1/3) x ₹13,400 = ₹4,466.67
6. Final Settlement for A:
- A's initial contribution: ₹5,000
- A's share of profit: ₹4,466.67
- Total amount due to A: ₹5,000 + ₹4,466.67 = ₹9,466.67
Therefore, A will receive ₹9,466.67 as a final settlement after considering the contributions, expenses, sales, profit sharing ratio, and profit earned in the joint venture.
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In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goo...
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In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goods are purchased for ₹11,200,Expenses amount to ₹200,Sales amount to ₹14,000 the remaining goods were taken by B at an agreed price of ₹400.A and B share profit and losses in the ratio of 1:2 resp.As a final settlement,how much A will receive?
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In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goods are purchased for ₹11,200,Expenses amount to ₹200,Sales amount to ₹14,000 the remaining goods were taken by B at an agreed price of ₹400.A and B share profit and losses in the ratio of 1:2 resp.As a final settlement,how much A will receive? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goods are purchased for ₹11,200,Expenses amount to ₹200,Sales amount to ₹14,000 the remaining goods were taken by B at an agreed price of ₹400.A and B share profit and losses in the ratio of 1:2 resp.As a final settlement,how much A will receive? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a joint venture A contributes ₹5,000 and B contributes ₹ 10,000.Goods are purchased for ₹11,200,Expenses amount to ₹200,Sales amount to ₹14,000 the remaining goods were taken by B at an agreed price of ₹400.A and B share profit and losses in the ratio of 1:2 resp.As a final settlement,how much A will receive?.
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