CA CPT Dec 2015 Question Paper Fundamentals of Accounting for online practice

A and B enter into a joint venture sharing profit and losses equally. A purchased 5,000 kg of rice@ Rs.50/kg. B purchased 1,000 kg of wheat @ Rs.60/kg. A sold 1,000 kg of wheat @ Rs.70/kg and B sold5,000 kg of rice @ Rs.60/kg. What will be the final remittance?