8.

CASE 1-Requirement (a)

Book of Cow Book of Chicken Book of Cow
a.JO 300 JO 300 g.Inventory
Inventory 300 Payable to 300

b.JO 500 JO-Cash 300 h.JO

Payable to 500 Cash 300

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)

Joint Operation - Chicken

Cash Contri 300 Chicken's books;
Share in pr 125
Cash receip 425 (a)
(c)
Reconciliation (e)
JO-Cash (h)
Cash Contri
300 100
Sales (d) Additional Purchases (c)
800 200
Expenses Paid (e)
Cash Balanc 800 (g)
(f)
JO - Cash B 800
Allocation:
Cash Contr 375
Cash Contri 425 (b)
Total 800 (d)
As Allocate -
 Requirement (d)
Book of Cow Book of Chicken
50 Payable to 50
JO 50 JO 500

250 JO 250
Payable to 125 Payable to 125
Share in Pro 125 Share in Pro 125

375 Cash (squeeze) 425

425 Payable to 375
Receivable 800 JO-Cash 800

T-accounts
Cow's books;
JO - Cow's books
300
300 800 (d)
50
250 (g)
-

Payable to Chicken
300 (b)
425
125 (h)
-

Receivable from Chicken

800 800 (i)
-

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)
-