Question

Illustration 1 Sudhir and Sarika signed a contract jointly to construct an office building for Aniket Enterprises Ltd. The contract price was overline < 5,0000 They opened a Joint Bank Account and deposited 2,40,000 and 1,20,000 respectively. They agreed to share the profits and losses in the ratio of 3/5 and 2/5 respectively. The following transactions were made from the Joint Bank Account: Wages 1,40,000, Materials purchased * 2,50,000. Apart from the above transactions, Sudhir supplied materials of 24,000 and Sarika paid the architect's fees 5,000. On completion of the construction Aniket Enterpises Ltd., paid full amount of contract price. There was unused stock of materials which was taken over by Sarika at * 30,000. Prepare Joint Venture Account, Joint Bank Account, and Co-venturers Accounts.​

Answer 1

Answer:

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