CA CPT Model Test Paper 5 with solutions for online practice

X and Y enter into a joint venture. X supplied goods to Y from his own stock worth Rs. 70,000. X incurred expenses amounting to Rs. 6000 on joint venture. The venture resulted in a total profit of Rs. 15,000 of which their ratio of distribution is 2:1. The entire sale proceeds were received by Y. No stock left at the end of the venture. Amount received by X from Y in final statement will be: