Question

4
, Lash received from B 73,750].
Hemant of Hubli bought goods of the value of * 27,000 and consigned them to Brijesh of
Bangalore to be sold by him on joint venture, profit being divided in the ratio of 2 : 1. He
also paid freight 600 and insurance 400 and drew a bill on Brijesh for 10,000. The
bill was discounted by Hemant for 9,800. Brijesh paid 100 for carriage and 250 for
godown rent. Brijesh sold all the goods for 40,000 incurring sales expenses of 450 on
the joint venture. Brijesh sent a cheque for the balance due to Hemant after charging his
commission at 5% on the gross sales.
Write up the Necessary Accounts in the books of both the parties.​

Answer 1

Answer:

4

, Lash received from B 73,750].

Hemant of Hubli bought goods of the value of * 27,000 and consigned them to Brijesh of

Bangalore to be sold by him on joint venture, profit being divided in the ratio of 2 : 1. He

also paid freight 600 and insurance 400 and drew a bill on Brijesh for 10,000. The

bill was discounted by Hemant for 9,800. Brijesh paid 100 for carriage and 250 for

godown rent. Brijesh sold all the goods for 40,000 incurring sales expenses of 450 on

the joint venture. Brijesh sent a cheque for the balance due to Hemant after charging his

commission at 5% on the gross sales.

Write up the Necessary Accounts in the books of both the parties.