XY formed a joint venture to construct railway line for Metro Railway in Delhi and agreed...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
XY formed a joint venture to construct railway line for Metro Railway in Delhi and agreed to share profit and loss in the ratio of 2:3. X purchased goods worth Rs. 200000 and send the same to Y on payment of freight and insurance of Rs. 10,000. Y also purchased material worth Rs. 45000 and incurred Rs. 5000 as incidental expenses. Y sold the construction material to Railway for Rs. 3,20,000. What is the profit on Joint venture XY formed a joint venture to construct railway line for Metro Railway in Delhi and agreed to share profit and loss in the ratio of 2:3. X purchased goods worth Rs. 200000 and send the same to Y on payment of freight and insurance of Rs. 10,000. Y also purchased material worth Rs. 45000 and incurred Rs. 5000 as incidental expenses. Y sold the construction material to Railway for Rs. 3,20,000. What is the profit on Joint venture
Expert Answer:
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
Posted Date:
Students also viewed these accounting questions
-
A calendar year corporation has substantial accumulated E & P, but it expects to incur a deficit in current E & P for the year due to significant losses in the last half of the year. A cash...
-
A calendar year corporation has an election under Subchapter S. What will be the effect, if any, of the following events on its S status? a. The board of directors of the corporation revokes its S...
-
The Howell Corporation has the following account balances (in millions): Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2013. For...
-
What is the advantage of using computing to simulate an automobile crash test as opposed to actually staging a crash?
-
Let X1, . . ., Xn be a random sample from an exponential distribution with pdf f(x) = (1/)ex/, > 0, x > 0. Construct a 95% confidence interval for and interpret.
-
You are flying in a plane, and a friend is on the ground. Who measures a shorter duration of \((a)\) a nap you take and (b) a nap your friend takes?
-
Why is it necessary to serve nonparty witnesses with a subpoena to appear at trial?
-
Go to the books companion website and use information found there to answer the following questions related to The Coca-Cola Company and PepsiCo, Inc. (a) What employee stock-option compensation...
-
Calculate the water power that the turbine can use, given the kinetic energy factor of 1.06. CoursHeroTranscribedText Water 30 m/s 1 - Z = 100 m Turbine 22 = 0 m 2 m/s
-
Here are incomplete financial statements for Deol Company: Instructions a. Calculate the missing amounts (i) to (x). b. Write a memo explaining (1) the sequence for preparing the financial...
-
Is an electrical vehicle a reliable mode of transportation? What are the disadvantages of owning an electrical vehicle? How would the automotive market be affected by the increment of sales of...
-
Once the project's scope has been determined, the project team members should be selected based on their level of influence and knowledge of the process as well as their skills and abilities. True...
-
Pine Valley Golf Club would like you to price their brand-new menu item, The Valley Veggie Burger. They inform you that their desired food cost percentage is 28% and their food cost for the dish is...
-
A manufacturing concern furnishes the following information. The standard consumption for 70 kgs of output is 100 kgs of Raw Materials @ Rs 1/kg. The actual output was 210,000 kgs. 280,000 kgs of...
-
William North has just inherited $799,000 which he would like to use as part of his retirement nest egg. William would like to know just how much the $799,000 will be worth in 17 years, when he will...
-
Question 1: Maria's Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an...
-
Classify each of the following costs into a Cost of Quality ( COQ ) category ( prevention , appraisal, internal failure, or external failure. Calculate the sub total for each group and find its...
-
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
-
Myers Drugs Inc. has 1.20 million shares of stock outstanding. Earnings after taxes are $9 million. Myers also has warrants outstanding that allow the holder to buy 100,000 shares of stock at $15 per...
-
Pittsburgh Steel Company has a convertible bond outstanding, trading in the marketplace at $960. The par value is $1,000, the coupon rate is 10 percent, and the bond matures in 20 years. The...
-
The Global Products Corporation has three subsidiaries. a. Which division has the lowest return on sales? b. Which division has the highest return on assets? c. Compute the return on assets for the...
-
The W10 \(\times 15\) cantilever beam is made of A-36 steel and is subjected to the loading shown. Determine the slope and displacement at its end \(B\). A 3 kip/ft 6 ft. -6 ft B
-
The two bars are pin connected at \(D\). Determine the slope at \(A\) and the displacement at \(D\). \(E I\) is constant. B 212 L2
-
Determine the slope at \(B\) and displacement at \(C . E I\) is constant. W W C02 312
Study smarter with the SolutionInn App