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A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:
- a)Rs.12500
- b)Rs.13000
- c)Rs.14500
- d)Rs.13500
Correct answer is option 'B'. Can you explain this answer?
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A bought goods of the value of Rs 10000 and consigned them to B to be ...
To solve this problem, we need to calculate the total expenses incurred by A and the total revenue generated by B. Then, we can determine the profit to be shared equally between A and B and calculate the amount to be remitted by B to A.
Given:
Value of goods sold by A = Rs 10,000
Freight and insurance paid by A = Rs 1,000
Bill drawn by A on B = Rs 10,000 (discounted at Rs 9,500)
Goods sold by B = Rs 15,000
Commission payable to B = Rs 500
1. Calculate the total expenses incurred by A:
Expenses incurred by A = Value of goods + Freight and insurance
Expenses incurred by A = Rs 10,000 + Rs 1,000
Expenses incurred by A = Rs 11,000
2. Calculate the total revenue generated by B:
Total revenue generated by B = Goods sold + Commission payable to B
Total revenue generated by B = Rs 15,000 + Rs 500
Total revenue generated by B = Rs 15,500
3. Calculate the profit:
Profit = Total revenue - Total expenses
Profit = Rs 15,500 - Rs 11,000
Profit = Rs 4,500
4. Calculate the amount to be shared equally between A and B:
Amount to be shared equally = Profit / 2
Amount to be shared equally = Rs 4,500 / 2
Amount to be shared equally = Rs 2,250
5. Calculate the amount to be remitted by B to A:
Amount to be remitted by B to A = Amount to be shared equally - Discounted bill amount
Amount to be remitted by B to A = Rs 2,250 - Rs 9,500
Amount to be remitted by B to A = Rs 12,750
Therefore, the amount to be remitted by B to A is Rs 12,750.
Given:
Value of goods sold by A = Rs 10,000
Freight and insurance paid by A = Rs 1,000
Bill drawn by A on B = Rs 10,000 (discounted at Rs 9,500)
Goods sold by B = Rs 15,000
Commission payable to B = Rs 500
1. Calculate the total expenses incurred by A:
Expenses incurred by A = Value of goods + Freight and insurance
Expenses incurred by A = Rs 10,000 + Rs 1,000
Expenses incurred by A = Rs 11,000
2. Calculate the total revenue generated by B:
Total revenue generated by B = Goods sold + Commission payable to B
Total revenue generated by B = Rs 15,000 + Rs 500
Total revenue generated by B = Rs 15,500
3. Calculate the profit:
Profit = Total revenue - Total expenses
Profit = Rs 15,500 - Rs 11,000
Profit = Rs 4,500
4. Calculate the amount to be shared equally between A and B:
Amount to be shared equally = Profit / 2
Amount to be shared equally = Rs 4,500 / 2
Amount to be shared equally = Rs 2,250
5. Calculate the amount to be remitted by B to A:
Amount to be remitted by B to A = Amount to be shared equally - Discounted bill amount
Amount to be remitted by B to A = Rs 2,250 - Rs 9,500
Amount to be remitted by B to A = Rs 12,750
Therefore, the amount to be remitted by B to A is Rs 12,750.
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A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer?
Question Description
A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? 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 bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer?.
A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? 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 bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer?.
Solutions for A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A bought goods of the value of Rs 10000 and consigned them to B to be sold by them on a joint venture, profits being divided equally, A paid Rs 1000 for freight and insurance. A draws a 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. The amount to be remitted by B to A will be:a)Rs.12500b)Rs.13000c)Rs.14500d)Rs.13500Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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