WhatsApp Now @+91 8692900017

CPT Chapter Joint Venture

CA CPT chapter “Joint Venture” explains the concept of a  joint venture and how it differs from a partnership. It deals with the accounting entries depending on whether a separate set of books is maintained for the Joint Venture business or accounting is done in the same set of books.

CA CPT Exam  

With Sheela Warrier.Duration:2hrs 59min

Joint VentureDuration (min:sec)
What is Joint Venture? 
Introduction02:54
What is Joint Venture?04:19
Joint Venture vs. Partnership08:11
Joint Venture Accounting-Separate Book 
Methods of JV accounting10:42
Separate Set of Book05:17
Accounting Entry Separate Set of Books11:30
Example 113:38
Example 207:07
Summary04:31
Quiz10:37
Joint Venture Accounting-Same Books 
Accounting record all transaction07:40
Example 110:55
Example 207:32
Accounting record own transaction (Memorandum Book)06:02
Example105:43
Example212:04
Treatment of special Items07:12
Examples special Items08:40
Summary record all transaction vs. Own Transaction09:37
Final Quiz18:18
Additional Questions1:12
Conclusion05:35
Total2:59:16

Notes

Few things covered by us:

What is a Joint Venture
Distinction between Joint Venture and Partnership
Accounting for Joint Venture - Separate set of books
Accounting for Joint Venture - Individually
With Memorandum Joint Venture
Without Memorandum Joint Venture

What is Joint Venture

Business of short duration
Short term partnership
Special purpose partnership
Co venturers
Share profit or loss

Separate set of books for Joint Venture

1) Joint Bank a/c - jointly operated account, cash inflows and outflows, closed by transfer to co venturers’ accounts
2) Joint Venture a/c - profit or loss
3) Co Venturers’ Personal accounts - Capital accounts

No separate set of books

1) Keeps record of all transactions in his own books
2) Keeps record of only own transactions in own books
(Memorandum Joint Venture)

Accounting without Memorandum Joint Venture a/c

Joint Venture a/c - nominal a/c
Co Venturers’ a/c - personal a/c

Accounting with Memorandum Joint Venture a/c

Only own transactions
Joint Venture with Co-venturer a/c - personal a/c
Memorandum Joint Venture a/c - a statement
(no double entry)


CPT Exam Exposure

Take Quiz

next to Bills of Exchange and Promissory Notes

back toConsignment

 

 Like our ca-cpt courseShow you appreciate by sharing!

Download Free Android App Free Quiz & Video

 

 

Subscribe to our channel

Enquiry Form