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A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?
- a)B will remit Rs. 2,10,000 to A
- b)A will remit Rs. 2,10,000 to B
- c)A will remit Rs. 2,00,000 to B
- d)B will remit Rs. 1,80,000 to A
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 profits and losses equally....
Given data:
- A purchased 5,000 kg of rice @ Rs. 50/kg
- B purchased 1,000 kg of wheat @ Rs. 60/kg
- A sold 1,000 kg of wheat @ Rs. 70/kg
- B sold 5,000 kg of rice @ Rs. 60/kg
- Profit and loss will be shared equally by A and B
To find: Final remittance of A and B
Solution:
1. Calculation of total cost of rice and wheat:
- A's cost for 5,000 kg rice = 5,000 x 50 = Rs. 2,50,000
- B's cost for 1,000 kg wheat = 1,000 x 60 = Rs. 60,000
- Total cost of rice and wheat = 2,50,000 + 60,000 = Rs. 3,10,000
2. Calculation of total revenue earned:
- A's revenue for 1,000 kg wheat = 1,000 x 70 = Rs. 70,000
- B's revenue for 5,000 kg rice = 5,000 x 60 = Rs. 3,00,000
- Total revenue earned = 70,000 + 3,00,000 = Rs. 3,70,000
3. Calculation of profit or loss:
- Total revenue earned - Total cost of rice and wheat = 3,70,000 - 3,10,000 = Rs. 60,000
- As profit and loss will be shared equally, each partner's share of profit or loss = 60,000/2 = Rs. 30,000
4. Calculation of final remittance:
- A's final remittance = A's share of profit (Rs. 30,000) + B's payment for 5,000 kg rice (5,000 x 50) - A's payment for 5,000 kg rice (5,000 x 60) = 30,000 + 2,50,000 - 3,00,000 = Rs. 2,10,000
- B's final remittance = B's share of profit (Rs. 30,000) + A's payment for 1,000 kg wheat (1,000 x 60) - B's payment for 1,000 kg wheat (1,000 x 70) = 30,000 + 60,000 - 70,000 = Rs. 20,000
Therefore, option A - B will remit Rs. 2,10,000 to A - is the correct answer.
- A purchased 5,000 kg of rice @ Rs. 50/kg
- B purchased 1,000 kg of wheat @ Rs. 60/kg
- A sold 1,000 kg of wheat @ Rs. 70/kg
- B sold 5,000 kg of rice @ Rs. 60/kg
- Profit and loss will be shared equally by A and B
To find: Final remittance of A and B
Solution:
1. Calculation of total cost of rice and wheat:
- A's cost for 5,000 kg rice = 5,000 x 50 = Rs. 2,50,000
- B's cost for 1,000 kg wheat = 1,000 x 60 = Rs. 60,000
- Total cost of rice and wheat = 2,50,000 + 60,000 = Rs. 3,10,000
2. Calculation of total revenue earned:
- A's revenue for 1,000 kg wheat = 1,000 x 70 = Rs. 70,000
- B's revenue for 5,000 kg rice = 5,000 x 60 = Rs. 3,00,000
- Total revenue earned = 70,000 + 3,00,000 = Rs. 3,70,000
3. Calculation of profit or loss:
- Total revenue earned - Total cost of rice and wheat = 3,70,000 - 3,10,000 = Rs. 60,000
- As profit and loss will be shared equally, each partner's share of profit or loss = 60,000/2 = Rs. 30,000
4. Calculation of final remittance:
- A's final remittance = A's share of profit (Rs. 30,000) + B's payment for 5,000 kg rice (5,000 x 50) - A's payment for 5,000 kg rice (5,000 x 60) = 30,000 + 2,50,000 - 3,00,000 = Rs. 2,10,000
- B's final remittance = B's share of profit (Rs. 30,000) + A's payment for 1,000 kg wheat (1,000 x 60) - B's payment for 1,000 kg wheat (1,000 x 70) = 30,000 + 60,000 - 70,000 = Rs. 20,000
Therefore, option A - B will remit Rs. 2,10,000 to A - is the correct answer.
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Community Answer
A and B enter into a joint venture sharing profits and losses equally....
A share of profit = (60000 ÷ 2 ) or 30000 + 25000 -70000 = 210000
so B will remit ₹210000
so B will remit ₹210000
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A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer?
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A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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 profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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 profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer?.
A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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 profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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 profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer?.
Solutions for A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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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Here you can find the meaning of A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer?, a detailed solution for A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of A and B enter into a joint venture sharing profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect 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 profits and losses equally. A purchased 5,000 kg of rice @ Rs. 50/kg. B purchased 1,000 kg of wheat @ Rs. 60/kg. A sold 1000 kg of wheat @ Rs. 70/kg and B sold 5,000 kg of rice @ Rs. 60/kg. What will be the final remittance?a)B will remit Rs. 2,10,000 to Ab)A will remit Rs. 2,10,000 to Bc)A will remit Rs. 2,00,000 to Bd)B will remit Rs. 1,80,000 to ACorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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