Question

A, B and Center into a joint venture to share profits and losses as 3:2:1. No separate
set of books are maintained. Amount contributed and received by different venturers
unting
are given below:
А
B
с
Rs.
Rs.
Rs.
20,000
4,000
40,000
2,000
14,000
40,000
Cost of Materials
55,000
Expenses
6,000
Sale proceeds received
Stock taken over
Prepare in the books of 'A' only:
(i) Joint venture Account; (ii) Co-venturers' Accounts
HOR
80,000
14,000
Dan
T10901​

Answer 1

Step-by-step explanation:

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