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A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this?
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A and B are partners in a joint venture sharing profit and losses in t...
Calculation of Profit and Loss Sharing

  • A's share = 3/5

  • B's share = 2/5



Calculation of A's Contribution

  • Value of goods supplied by A = Rs. 80000

  • Expenses incurred by A = Rs. 6000



Calculation of B's Contribution

  • Value of goods supplied by B = Rs. 14000

  • Expenses incurred by B = Rs. 2000

  • Commission earned by B = 5% of Rs. 150000 = Rs. 7500



Calculation of Total Profit

  • Total sales = Rs. 150000

  • Total expenses = Rs. 6000 + Rs. 2000 + Rs. 7500 = Rs. 15500

  • Total profit = Rs. 150000 - Rs. 15500 = Rs. 134500



Calculation of Profit Sharing

  • A's share of profit = 3/5 x Rs. 134500 = Rs. 80700

  • B's share of profit = 2/5 x Rs. 134500 = Rs. 53800



Calculation of Final Settlement

  • Amount to be paid by B to A = A's share of profit - A's contribution

  • Amount to be paid by B to A = Rs. 80700 - Rs. 8000 = Rs. 72700

  • Total amount paid by B = Rs. 53800 + Rs. 2000 + Rs. 7500 + Rs. 72700 = Rs. 136000



Therefore, B will pay Rs. 110300 to A as a final settlement.
Community Answer
A and B are partners in a joint venture sharing profit and losses in t...
Joint Venture is
now not in the syllabus of CA Foundation
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A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this?
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A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? 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 A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this?.
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Here you can find the meaning of A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? defined & explained in the simplest way possible. Besides giving the explanation of A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this?, a detailed solution for A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? has been provided alongside types of A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? theory, EduRev gives you an ample number of questions to practice A and B are partners in a joint venture sharing profit and losses in the proportion of 3/5th and 2/5th respectively. A supplies goods to value of rs. 80000 and Incurs expenses amounting Rs. 6000. B supplies goods to the value of rs 14000 and his expenses amount to rs.2000. B sells goods on the behalf of the joint venture and realises rs.150000. B entitled to a commission of 5% on sales. B settled his account by bank draft how much amount, B will pay to A as final settlement? ans- Rs. 110300? can u explain this? tests, examples and also practice CA Foundation tests.
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