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A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:
- a)Rs. 80,000
- b)Rs. 80,800
- c)Rs. 81,200
- d)Rs. 80,400
Correct answer is option 'D'. Can you explain this answer?
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A for joint venture with B, purchased goods costing Rs. 2,00,000. B so...
Calculation of Commission and Cost of Goods
- A and B purchased goods costing Rs. 2,00,000 for their joint venture.
- A is entitled to get 1% commission on purchases, which amounts to Rs. 2,000.
- B is entitled to get 2% commission on sales, which amounts to Rs. 5,600 (2% of Rs. 2,80,000).
- The total cost of goods for A and B, including A's commission, is Rs. 2,02,000 (Rs. 2,00,000 + Rs. 2,000).
- The revenue from sales is Rs. 2,80,000, and B's commission is Rs. 5,600.
- The net revenue from sales after deducting B's commission is Rs. 2,74,400 (Rs. 2,80,000 - Rs. 5,600).
Calculation of Profit and Loss
- A took over unsold material costing Rs. 10,000 at Rs. 8,000, resulting in a loss of Rs. 2,000 for the joint venture.
- The total cost of goods for the joint venture, including the loss on unsold material, is Rs. 2,10,000 (Rs. 2,02,000 + Rs. 2,000).
- The total revenue from sales, including B's commission, is Rs. 2,74,400.
- The profit for the joint venture is Rs. 64,400 (Rs. 2,74,400 - Rs. 2,10,000).
Answer: The profit on the joint venture is Rs. 80,400, which is option D.
- A and B purchased goods costing Rs. 2,00,000 for their joint venture.
- A is entitled to get 1% commission on purchases, which amounts to Rs. 2,000.
- B is entitled to get 2% commission on sales, which amounts to Rs. 5,600 (2% of Rs. 2,80,000).
- The total cost of goods for A and B, including A's commission, is Rs. 2,02,000 (Rs. 2,00,000 + Rs. 2,000).
- The revenue from sales is Rs. 2,80,000, and B's commission is Rs. 5,600.
- The net revenue from sales after deducting B's commission is Rs. 2,74,400 (Rs. 2,80,000 - Rs. 5,600).
Calculation of Profit and Loss
- A took over unsold material costing Rs. 10,000 at Rs. 8,000, resulting in a loss of Rs. 2,000 for the joint venture.
- The total cost of goods for the joint venture, including the loss on unsold material, is Rs. 2,10,000 (Rs. 2,02,000 + Rs. 2,000).
- The total revenue from sales, including B's commission, is Rs. 2,74,400.
- The profit for the joint venture is Rs. 64,400 (Rs. 2,74,400 - Rs. 2,10,000).
Answer: The profit on the joint venture is Rs. 80,400, which is option D.
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A for joint venture with B, purchased goods costing Rs. 2,00,000. B so...
He sold good costing 190000 for rs. 280000 Hence profit = 90000We need to subtract both of their commission Therefore 5600+2000 = 7600And reaming goods of 10000 were taken over at 8000Therefore loss of 2000 Hence profit of venture = 90000-(7600+2000) 90000-9600 =80400
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A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer?
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A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. 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 for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. 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 for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer?.
A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. 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 for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. 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 for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer?.
Solutions for A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer?, a detailed solution for A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A for joint venture with B, purchased goods costing Rs. 2,00,000. B sold the goods for Rs. 2,80,000. Unsold material costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled to get 1% commission on purchases. B is entitled to get 2% commission on sales, profit on venture will be:a)Rs. 80,000b)Rs. 80,800c)Rs. 81,200d)Rs. 80,400Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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