Question

13. Karthik and Sundar both Contractors undertook a Joint venture for construction of a
building. A Joint Bank Account was opened in which Karthik deposited Rs. 50,000
and Sundar deposited Rs. 30,000. The contract price was Rs. 2,00,000 payable as to
Rs. 1,60,000 in cash and Rs. 40,000 in shares. The contract was completed. They are
26.72
1
2
and
3
respectively. From the following details
3
to share the profits and losses in
prepare the ledger accounts:
Rs.
Materials supplied by Karthik
10,000
Materials supplied by Sundar
8,000
Wages paid
60,000
Materials purchased
1,40,000
Architect's fee paid by Karthik
2,000
The Stock of material at the end valued at Rs. 6,000 were taken by Sundar. The shares
were taken by Karthik for Rs. 32,000.​

Answer 1

Step-by-step explanation:

13. Karthik and Sundar both Contractors undertook a Joint venture for construction of a

building. A Joint Bank Account was opened in which Karthik deposited Rs. 50,000

and Sundar deposited Rs. 30,000. The contract price was Rs. 2,00,000 payable as to

Rs. 1,60,000 in cash and Rs. 40,000 in shares. The contract was completed. They are

26.72

1

2

and

3

respectively. From the following details

3

to share the profits and losses in

prepare the ledger accounts:

Rs.

Materials supplied by Karthik

10,000

Materials supplied by Sundar

8,000

Wages paid

60,000

Materials purchased

1,40,000

Architect's fee paid by Karthik

2,000

The Stock of material at the end valued at Rs. 6,000 were taken by Sundar. The shares

were taken by Karthik for Rs. 32,000.