I got the answer Net profit of the joint venture for your case Is =Sales - purchases-net Loss due to Fire
Thus Net profit is = 20000-16000-1000* = 3000 for joint ventrue in this A&B's share is 50% each thus A's share is Rs.1500.
*Gross loss by fire - Insurance Claim received = 4000-1000 = Net Loss due to fire.
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