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Book of Cow Book of Chicken Book of Cow
Book of Cow Book of Chicken Book of Cow
c. NO ENTRY JO 100
JO-Cash 100 i.Cash (squeeze)
Payable to
d.Receivab 800 JO-Cash 800
JO 800 JO 800
T-accounts
e. NO ENTRY JO 200 Cow's books;
JO-Cash 200
Requirement (b) (a)
Joint Operation (b)
Merchandise 300 (h)
Purchase (c 100 800 Sales (d)
50
Expenses (e 200 Unsold Inventory (g)
250 Credit Balance - Profit
(i)
Requirement (c)
Joint Operation - Cow
Merchandise 300
50
Share in pr 125 Inventory Taken (g)
Cash receip 375 (d)
250 JO 250
Payable to 125 Payable to 125
Share in Pro 125 Share in Pro 125
T-accounts
Cow's books;
JO - Cow's books
300
300 800 (d)
50
250 (g)
-
Payable to Chicken
300 (b)
425
125 (h)
-
Chicken's books;
JO - Chicken's books
300
100 800
200 50 (d)
250 (g)
-
Payable to Cow
50 300 (a)
375 125 (h)
-
JO - Cash
100 (c)
300
200
800
800
100
300
200 (e)
800
800 (f)
-
CASE2 - Requirement (a)
Books of Cow Books of Chicken JO's Books
a.Investmen 300 NO ENTRY Inventory 300
Inventory 300 Cow's Capit
COGS 350
Inventory
Requirement (b)
Sales 800
Cost of Sales (300 + 100 - 50) -350
Groos Profit 450
Expenses -200
Profit 250
Requirement (c)
JO's Books Int. in JO - Cow Int. in JO - Chicken
Merchandis 300 Cash Contri 300
50
300 Share in pr 125 Inventory Taken (g) Share in pr 125
Cash Receip 375 Cash Receip 425
500 Reconciliation
Cash
Cash Contri 300 100 Additional Purchases (c)
100 Sales (d) 800 200 Expenses Paid (e)
Cash balanc 800
800
350
200
Int. in JO - Chicken