Joint venture problem.

Mohan and sohan were partners in a joint venture sharing profit and losses in the ratio
Of 3:2 . mohan supplied goods of the value of Rs 6000 and incurred an expenditure of Rs
200 .sohan supplied goods of the value of Rs 5000 and his expenses were Rs 300. Sohan
Sold all the good for a sum of Rs 18,000 . sohan is entitled to a commission of 4% on sales and he
Settled his account by sending a bank draft to mohan. Pass necessary journal entries in the books
Of both the parties.

asked Feb 3, 2016 in Joint Ventures by Shekhar (54 points) 150 views

1 Answer

0 votes

Journal entries in the books of Mohan and Sohan when both the joint-venturers maintain books of Joint Venture in their own books,

answered Feb 4, 2016 by jbsclasses (3,861 points)