Question

Dilip and raj are doing business separately as engineering contractors. They undertake jointly to be
install new machinery for a company for a contract price of 1,34,000. 184,000 payable in instalme
cash and the balance as fully paid share in the new company. A bank account is opened in joint ne
Dilip paying 45,000 and Raj 20,000. They agree to share profits and losses in the proportion of 35 or
respectively. The transactions were as follows:​

Answer 1

Explanation:

Dilip paying 45,000 and Raj 20,000. They agree to share profits and losses in the proportion of 35 or