Question

004)
[Ans. : Profit of Joint Venture Rs. 39,000, Gopal and Govind will
get
Rs. 87,500 and 87,500 from Joint Venture Bank A/c, Total of Joint Bank
A/c Rs. 3,24,000, Total of Joint Venture A/c Rs. 1,88,000.)
1. Ram and Shyam undertook jointly to construct a Multiplex Theatre at
S. G. Highway. Ahmedabad for Bhavesh Shah & Co. Ltd.
The contract price was agreed at Rs. 25,00,000, payable 80% in cash and 20%
by equity shares of company.
They opened a Joint Bank Account by depositing Rs. 8,00,000 by each co-
venturer.
The cost of construction was as under:
Rs.
RS
Materials
7,50,000 Engineers & Architect's fees 25,00
Wages
6,00,000 Misc. Expenses
1,20,00
Machines' Rent
50,000
The venture was completed and Ram took stock of Materials for Rs. 20,00
and Shyam took shares of the Co. at Rs. 4,75,000.​

Answer 1

Answer:

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