If unsold goods costing 20,000 is taken over by venturer at 15,000, the joint venture account will be credited by

Related MCQs

• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• If X co-venture takes away of goods under memorandum Joint Venture Method then he will debit these goods in his books to
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• What is the nature of joint venture with co-venture account?
• When goods are purchased for the joint venture, the account to be debited is
• Which of the following account(s) is (are) maintained in the joint venture when separate set of books are maintained?
• Joint venture account is of the nature of
• Memorandum joint venture account is
• Goods taken from business for personal use by the proprietor should be credited to
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?