Question

Rajeev and Ashok enter into a joint venture as dealers in land and opened a Joint Bank Account with Rs 60,000 towards which Rajeev contributed Rs 40,000. They agree to share profits and losses in proportion to their cash contribution. They purchased a plot of land measuring 5,000 square yards for Rs 50,000. It was decided to sell the land in smaller plots and a plan was got prepared at a cost of Rs 1,200. In the said plan 1/5th of the total area of the land was left over for public roads and the remaining land was divided into 8 plots of equal size. Out of 8 plots, 3 plots were sold @ Rs 15 per square yard and the remaining 5 plots were sold @ Rs 14 per square yard. Expenses incurred in connection with the plots were: Registration Expenses Rs 4,000, Stamp Duty Rs 400 and Other Expenses Rs 1,000. Allow 2% on the sale proceeds as a commission to Rajeev. Journalise the above transactions and prepare the necessary ledger accounts.​

Answer 1

Answer:

Lucky uff uff RSS ashram iska jazz Ross grass to ask so si si si si

Explanation:

Jeff Jeff