Mano and Mohan entered into Joint Venture and agreed to share profits and losses
in the ratio of 2 : 3. They opened a joint bank account depositing Rs.8,000 and
Rs.10,000 respectively. They purchased 10 old television sets at Rs.1,500 each.
They paid expenses out of joint bank account for reconditioning the sets to the
extent of Rs.3,000. Mohan incurred carriage and other expenses to the extent of
Rs.2,000. Mohan received a cheque for Rs.1,000 from Mano. Nine sets were sold at
Rs.2,500 each and the rest was taken over the Mohan at cost. Prepare ledger
accounts.
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I think the answer is 763
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