Question

B, V and S entered into a joint venture of a contract price
of Rs. 1,00,000. Rs. 40,000, Rs. 20,000 and
Rs. 20,000 were invested by B, V and S respectively and a
joint bank account was opened. They purchased materials
for Rs. 60,000; architect fees of Rs. 1,000 was paid by B,
V paid for sundry expenses Rs. 2,000 and S paid Rs. 4,000
for cement. The contract was duly carried out. All the
transactions were done through joint bank account. Show
joint venture account and joint bank account.

Answer 1

Answer:

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Explanation:

answer is in the attachment