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Anurag and Basu entered into a joint venture and agreed to share equal profits. Anurag
3/4/2012 1:28:16 PM
Anurag and Basu entered into a joint venture and agreed to share equal profits. Anurag
purchased goods costing 2,00,000, Basu sold 4/5th of the goods for Rs. 2,50,000. Balance
goods were taken over by Basu at cost less 20%. If same set of books is maintained, find out
profit on venture
(a) Rs.90,000
(b) Rs.85,000
(c) Rs.83,000
(d) Rs.82,000
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