Question

3
Das, Bose and Gupta undertake to erect a five storied mansion for National Housing Trust Lid. The contract
price is agreed at 225,00,000
to be paid in cash 222,00,000 by four equal installments and the balance
amount in 8% Debentures of the company. They agree to share equally the profit or loss.
They opened a Joint Banking Account with cash contributed as stated below; Das 3,00,000: Bose: 3,75.000:
Gupta 2,00,000 Das arranges the preparation of building plans, etc., and pays 232,000 as architect's fees.
Bose brings a concrete mixer and other implements valued at 180,000 and Gupta brings a motor lorry valued
at 275,000
They paid in cash for the following:
₹
Materials
12.26.800
Wages
7,33,200
Sundry expenses
20.000
Plant
60,000
On completion of the venture concrete mixer is sold 250,000 and plant and other implements are sold as
scrap for 10.000. Gupta takes back the motor lorry at 240,000.
Subsequently Das took over the Debentures issued by the company at a valuation of 2.80,000.
Show the necessary ledger accounts for the joint venture.

Answer 1

Lisa please read this carefully you question is so big anyone can't answer this is my advice you ask your teacher or parents this is better because I have also not get answers for big questions