Illustration

Esenam and Etonam entered in to a joint venture, contributing GHC$3$Om and GHC$25$m respectively into a joint bank account. They decided to share profits and losses in the ratio of $3$:$2$ respectfully. They purchased goods of GHC$35$m by cheque and GHC $20m$ from Etonam. Cash sales amounted to $60m.$ Elorm bought goods of GHC$15$m from the joint venture. Expenses of GHC$15$m were settled with a cheque, while Esenam also paid expenses of GHC$10$m from his personal resources. Elorm settled her account with a cheque and Etonam took over the remaining stock valued at GHC$10$m$.$