CA CPT Model Test Paper 8 with solutions for online practice

Mohan and Sohan enter into joint venture sharing profits and losses equally. Mohan purchased 100 kg of rice @ 20 kg. Brokerage paid Rs. 200, carriage Rs. 300 Sohan sold 90 kg of rice @ Rs. 22 Kg. Balance rice was taken over by Sohan at cost. The value of rice taken over to be recorded in joint venture will be