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P and q enter into joint venture and purchase an old house for $250,000. Each one of them contributing $125,000...

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P and Q enter into joint venture and purchase an old house for $250,000. Each one of them contributing $125,000. For an agreed fee of $8000 P is to manage the disposal for the property. P pays 5000 for demolishing the house. The material house was sold for 15000$ by phone and incurred expenses 3500$. The whole land was sold by people eventually for $380,000.
If P and Q shares profit equally then what is the profit?

posted Jan 26, 2019 by Pruthvi Vekaria

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1 Answer

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P and Q spent:
$ 250000+ $5000+$3500=$258500 (they agreed to spend $8000 but spent $5000 and additional expense of $3500)
They received:
$15000+$380000=$395000
The difference is the profit:
$395000-$258500=$136500
Each of them got $136500/2=$68250

answer Feb 1, 2019 by Hanifa Mammadov



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