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In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:
- a)Rs. 3,125
- b)Rs. 2,500
- c)Rs. 3,000
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
In a joint venture between A and B, A purchased goods costing Rs.42,50...
Calculation of goods taken over by A:
- Total cost of goods purchased by A = Rs. 42,500
- Total cost of goods sold by B = Rs. 40,000
- Total selling price of goods sold by B = Rs. 50,000
- Gross profit percentage = ((Total selling price - Total cost price) / Total cost price) * 100
- Gross profit percentage = ((50,000 - 40,000) / 40,000) * 100 = 25%
Calculation of goods taken over by A:
- Gross profit on goods sold by B = Rs. 50,000 - Rs. 40,000 = Rs. 10,000
- Gross profit on goods taken over by A = Rs. 10,000
- Let the cost of goods taken over by A be x
- Since the gross profit percentage is the same for both transactions,
- Therefore, (50,000 - x) * 25% = x * 25%
- 12,500 - 0.25x = 0.25x
- 0.5x = 12,500
- x = Rs. 25,000
Therefore, the amount of goods taken over by A will be Rs. 25,000.
- Total cost of goods purchased by A = Rs. 42,500
- Total cost of goods sold by B = Rs. 40,000
- Total selling price of goods sold by B = Rs. 50,000
- Gross profit percentage = ((Total selling price - Total cost price) / Total cost price) * 100
- Gross profit percentage = ((50,000 - 40,000) / 40,000) * 100 = 25%
Calculation of goods taken over by A:
- Gross profit on goods sold by B = Rs. 50,000 - Rs. 40,000 = Rs. 10,000
- Gross profit on goods taken over by A = Rs. 10,000
- Let the cost of goods taken over by A be x
- Since the gross profit percentage is the same for both transactions,
- Therefore, (50,000 - x) * 25% = x * 25%
- 12,500 - 0.25x = 0.25x
- 0.5x = 12,500
- x = Rs. 25,000
Therefore, the amount of goods taken over by A will be Rs. 25,000.
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In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
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In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:a)Rs. 3,125b)Rs. 2,500c)Rs. 3,000d)None of the aboveCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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