28 October 2007
Case I: A consigns goods costing Rs 33,000 to B at “PROFORMA price” which was cost plus one sixth profit on “invoice price”. What is invoice price of goods? a39000 b. 39600 c. 40000 d 45000 In above case, what does “proforma price” mean and what’s its difference from Invoice price?
Case II: A and B ( Capital 40,000 and 20000) buy land at 60k and sell it for 80k. What’s the profit on Joint Venture? a) 20k b)30k
Case I : Proforma Price and Invoice Price are same. Answer is 1/6 th of invoice price is 1/5 th of cost price. i.e. 33000*1/5 = Rs. 6600 Thus invoice price = 33000 + 6600 = 39600
Case II : JV profit = Rs. 20000 to be shared in Ratio Of Capital 2:1. (80000-60000=20000)
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