With The Following Information What Is The Profit On Joint Venture?
A, B enter into JV sharing P/L in the ratio 2:1. A purchased goods costing 200,000. B sold the goods for 250,000. A is entitled to get 1% commission on purchase and B 5% commission on sales.(ans=35500)
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The total profit from the sale of goods is 50,000.
A will get 1% commission on purchase i.e 1% of 200,000= 2000
B will get 5% commission on sale i.e 5% of 50,000 = 2500
Thus the remaining amount to be distributed as profit will be = (2000+2500=4500) = 50,000-4500=45500
Profit share of A = 30,333.33
Profit share of B = 15166.66
A will get 1% commission on purchase i.e 1% of 200,000= 2000
B will get 5% commission on sale i.e 5% of 50,000 = 2500
Thus the remaining amount to be distributed as profit will be = (2000+2500=4500) = 50,000-4500=45500
Profit share of A = 30,333.33
Profit share of B = 15166.66
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