CA CPT June 2018 Question Paper Fundamentals of Accounting for online practice

P & Q entered into a Joint venture. P consigned goods costing Rs. 15,00,000 to Q Expenses paid by P amounted to Rs. 25,000 . P will get a commission of 2 % on purchases and Qwill get a commission of 1% on sales. Q sold 90% of the goods for Rs. 17,00,000 and the remaining goods were stolen. Calculate the profit on Joint ventre