X & Y entered a Joint Venture for export of Indian Handicraft items to overseas customers....

 

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X & Y entered a Joint Venture for export of Indian Handicraft items to overseas customers. X sends goods worth Rs. 2,00 000 to Y for export to USA. Y exported goods worth Rs. 1,75,000 to USA for Rs. 2,10,000 and agreed to take away the remaining goods at cost less 10%. Y's Account will be for goods taken away. A debited by Rs.22, 500 B C D credited by Rs.22, 500 credited by Rs.25, 000 debited by Rs.25,000 X & Y entered a Joint Venture for export of Indian Handicraft items to overseas customers. X sends goods worth Rs. 2,00 000 to Y for export to USA. Y exported goods worth Rs. 1,75,000 to USA for Rs. 2,10,000 and agreed to take away the remaining goods at cost less 10%. Y's Account will be for goods taken away. A debited by Rs.22, 500 B C D credited by Rs.22, 500 credited by Rs.25, 000 debited by Rs.25,000

Answer rating: 100% (QA)

Correct option is A X sends goods costing Rs2 00 000 ... View the full answer