004) [Ans. : Profit of Joint Venture Rs. 39,000, Gopal and Govind willgetRs. 87,500 and 87,500 from Joint Venture Bank A/c, Total of Joint BankA/c Rs. 3,24,000, Total of Joint Venture A/c Rs. 1,88,000.)1. Ram and Shyam undertook jointly to construct a Multiplex Theatre atS. G. Highway. Ahmedabad for Bhavesh Shah & Co. Ltd.The contract price was agreed at Rs. 25,00,000, payable 80% in cash and 20%by equity shares of company.They opened a Joint Bank Account by depositing Rs. 8,00,000 by each co-venturer.The cost of construction was as under:Rs.RSMaterials7,50,000 Engineers & Architect's fees 25,00Wages6,00,000 Misc. Expenses1,20,00Machines' Rent50,000The venture was completed and Ram took stock of Materials for Rs. 20,00and Shyam took shares of the Co. at Rs. 4,75,000.

004) [Ans. : Profit of Joint Venture Rs. 39,000, Gopal and Govind wi

1.	004) [Ans. : Profit of Joint Venture Rs. 39,000, Gopal and Govind willgetRs. 87,500 and 87,500 from Joint Venture Bank A/c, Total of Joint BankA/c Rs. 3,24,000, Total of Joint Venture A/c Rs. 1,88,000.)1. Ram and Shyam undertook jointly to construct a Multiplex Theatre atS. G. Highway. Ahmedabad for Bhavesh Shah & Co. Ltd.The contract price was agreed at Rs. 25,00,000, payable 80% in cash and 20%by equity shares of company.They opened a Joint Bank Account by depositing Rs. 8,00,000 by each co-venturer.The cost of construction was as under:Rs.RSMaterials7,50,000 Engineers & Architect's fees 25,00Wages6,00,000 Misc. Expenses1,20,00Machines' Rent50,000The venture was completed and Ram took stock of Materials for Rs. 20,00and Shyam took shares of the Co. at Rs. 4,75,000.
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