Question

29. Radha and Meera decided to take up a venture in sewing machines. Radha was to
purchase the machines and Meera was to sell them. Radha was entitled to interest at
8% p.a. on the money invested by her and Meera was to get a commission @6% on sales.
Profits and losses were to be shared in the ration 3 : 2. On 1st June, 2011 Radha
purchased 2,500 sewing machines @550 each. She spent * 10 per machine as packing
charges. Meera spent * 1 per sewing machine as freight Meera sold:
1,500 sewing machines on 1st August @* 700 each
750 sewing machines on 17th October @ 725 each
She remitted to Radha :
8,00,000 on 31st August
* 6,00,000 on 1st October
She took the remaining sewing machines into her own account at cost plus 10% on 31st
October the accounts were settled.
Prepare ledger a accounts in the books of Radha and Meera.​

Answer 1

Explanation:

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