## Advertisement

MAHARASHTRA

XII (12) HSC

XI (11) FYJC
X (10) SSC

### Joint venture Sanjay, Ajay and Vijay entered into a Joint venture

Sanjay, Ajay and Vijay entered into a Joint venture for construction of a building for contract price of Rs. 6, 00,000. Payable in cash Rs. 4,00,000 and Rs. 2,00,000 in debentures. They decided to share profits and losses in the ratio of their initial contributions. They opened Joint Bank A/c. where Sanjay deposited Rs. 3,00,000 Ajay Deposited Rs. 2,00,000 and Vijay deposited Rs. 1,00,000. The following payments are made out through Joint Bank A/c . Purchase of material Rs. 2,50,000, Plant Rs. 45,000, Wages – Rs. 77,000 and other charges Rs. 11,000. Sanjay brings truck of Rs. 40,000. Ajay brings materials of Rs. 55,000 and Vijay brings mixture of Rs. 10,000. At the end of the venture unused material was taken over by Sanjay for Rs. 5,000. Ajay took over mixture for Rs. 15,000 and Vijay took over Plant for Rs. 12,000. The truck was sold in the market for Rs. 22,000. Contract price was received and debentures were taken over by Vijay for Rs. 1,90,000. Prepare Joint Venture A/c., Joint Bank A/c.,  and Co – ventures A/c.
Solution:
 Date Particulars Lf Debit (Rs.) Credit (Rs.) ? 1. Joint Bank A/c ………Dr.To Sanjay's A/cTo Ajay's A/cTo Vijay's A/c [Being the initial contribution is made] 600000 300000200000100000 2. Joint venture A/c ……… DrTo Joint Bank A/c [Being the materials & plants purchased & wages & other charges paid] 383000 383000 3. Joint venture A/c …… Dr. To Sanjay's A/cTo Ajay's A/cTo Vijay's a/c[Being Materials, truck and mixtures brought] 105000 400005500010000 4. Sanjay's A/c ……… Dr. Ajay's A/c ……… Dr. Vijay's A/c … …… Dr. To Joint venture A/c[Being the unused materials, mixtures and plant were taken over] 50001500012000 32000 5. Joint Bank A/c ……… Dr. To Joint venture A/c[Being the truck sold in the market] 22000 22000 6. Joint Bank A/c …… Dr. Debenture's A/c ………… Dr. To Joint venture A/c[Being the contract price received] 400000200000 600000 7. Vijay's A/c ……… Dr. To Debentures A/c[Being the debentures are taken over at discount] 1900000 190000 8. Joint venture A/c ……… Dr. To Debenture's A/c[Being discount made on debentures] 10000 10000 9. Joint venture A/c ……… Dr. To Sanjay's A/cTo Ajay's A/cTo Vijay's A/c[being the profit made on joint venture] 156000 780005200026000 10. Sanjay's A/c ……… Dr. Ajay's A/c ……… Dr. To Joint Bank A/c[Being the final settlement is made] 413000292000 705000 11. Joint Bank A/c ……… Dr. To Vijay's A/c[Being the final settlement is made] 66,000 66000

## PDF FILE TO YOUR EMAIL IMMEDIATELY PURCHASE NOTES & PAPER SOLUTION. @ Rs. 50/- each (GST extra)

SUBJECTS

HINDI ENTIRE PAPER SOLUTION

MARATHI PAPER SOLUTION
SSC MATHS I PAPER SOLUTION
SSC MATHS II PAPER SOLUTION
SSC SCIENCE I PAPER SOLUTION
SSC SCIENCE II PAPER SOLUTION
SSC ENGLISH PAPER SOLUTION
SSC & HSC ENGLISH WRITING SKILL
HSC ACCOUNTS NOTES
HSC OCM NOTES
HSC ECONOMICS NOTES
HSC SECRETARIAL PRACTICE NOTES

2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

HSC ENGLISH SET C 2019 21st February, 2019

HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION COMMERCE, 2nd March, 2019

HSC MATHS PAPER SOLUTION SCIENCE 2nd, March, 2019

SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

HSC XII BIOLOGY 2019 6TH March, 2019

HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

SSC SCIENCE II MARCH 2019 SOLUTION 10TH STD. 18th March, 2019.

SSC SOCIAL SCIENCE I MARCH 2019 SOLUTION20th March, 2019

SSC SOCIAL SCIENCE II MARCH 2019 SOLUTION, 22nd March, 2019

XII CBSE - BOARD - MARCH - 2019 ENGLISH - QP + SOLUTIONS, 2nd March, 2019

HSC Maharashtra Board Papers 2020

(Std 12th English Medium)

HSC ECONOMICS MARCH 2020

HSC OCM MARCH 2020

HSC ACCOUNTS MARCH 2020

HSC S.P. MARCH 2020

HSC ENGLISH MARCH 2020

HSC HINDI MARCH 2020

HSC MARATHI MARCH 2020

HSC MATHS MARCH 2020

SSC Maharashtra Board Papers 2020

(Std 10th English Medium)

English MARCH 2020

HindI MARCH 2020

Hindi (Composite) MARCH 2020

Marathi MARCH 2020

Mathematics (Paper 1) MARCH 2020

Mathematics (Paper 2) MARCH 2020

Sanskrit MARCH 2020

Important-formula

THANKS