CA CPT Model Test Paper 12 with solutions for online practice

X and Y entered into a joint venture sharing profits and losses equally. X provides goods from his Inventory Rs. 20,000. He pays expenses amounting to Rs. 2,000. Y incurs further expenses on carriage Rs. 3,000. He received cash for sales Rs. 35,000. He also takes over goods to the value of Rs. 5,000. What will be the amount to be remitted by Y to X?