A & B have started a Joint Venture for purchase & Sale of garments. Initial capital contribution wasRs.25,000 & Rs.50,000. There is no written agreement about share of P & L among them. They purchasedgarments worth Rs.50,000 & sold for Rs.75,000, the profit to be shared among them is

Question

Examsnet · Accepted Answer

Correct Answer is : Rs.12,500 & Rs.12,500

CA CPT 2013 Dec Question Paper Fundamentals of Accounting for online practice