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A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:
- a)Rs. 35,500
- b)Rs. 36,000
- c)Rs. 34,000
- d)Rs.38,000
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A and B enter into a joint venture sharing profit and losses in the ra...
Calculation of Commission:
A's commission = 1% of Rs. 2,00,000 = Rs. 2,000
B's commission = 5% of Rs. 2,50,000 = Rs. 12,500
Calculation of Profit:
Total amount received by the venture = Rs. 2,50,000
Total amount spent by the venture = Rs. 2,00,000 + Rs. 2,000 (A's commission) + Rs. 12,500 (B's commission) = Rs. 2,14,500
Profit = Total amount received - Total amount spent = Rs. 35,500
Sharing of Profit:
The ratio of profit sharing between A and B is 2:1
A's share = 2/3 x Rs. 35,500 = Rs. 23,666.67
B's share = 1/3 x Rs. 35,500 = Rs. 11,833.33
Therefore, the profit on the venture will be Rs. 35,500.
A's commission = 1% of Rs. 2,00,000 = Rs. 2,000
B's commission = 5% of Rs. 2,50,000 = Rs. 12,500
Calculation of Profit:
Total amount received by the venture = Rs. 2,50,000
Total amount spent by the venture = Rs. 2,00,000 + Rs. 2,000 (A's commission) + Rs. 12,500 (B's commission) = Rs. 2,14,500
Profit = Total amount received - Total amount spent = Rs. 35,500
Sharing of Profit:
The ratio of profit sharing between A and B is 2:1
A's share = 2/3 x Rs. 35,500 = Rs. 23,666.67
B's share = 1/3 x Rs. 35,500 = Rs. 11,833.33
Therefore, the profit on the venture will be Rs. 35,500.
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Community Answer
A and B enter into a joint venture sharing profit and losses in the ra...
Commission of A on purchase = 200000×1%= 2000
Commission of B on sales = 250000×5%= 12500
Sales - Purchase = 250000 - 200000= 50000
Profit on Venture will be = 50000 - 2000 - 12500= 35500
Therefore answer is a) 35500
Commission of B on sales = 250000×5%= 12500
Sales - Purchase = 250000 - 200000= 50000
Profit on Venture will be = 50000 - 2000 - 12500= 35500
Therefore answer is a) 35500
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A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer?
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A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. 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 and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. 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 and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer?.
A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. 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 and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. 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 and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer?.
Solutions for A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A and B enter into a joint venture sharing profit and losses in the ratio 2:1. A purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. The profit on venture will be:a)Rs. 35,500b)Rs. 36,000c)Rs. 34,000d)Rs.38,000Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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