(a)[4]
Explain two benefits to Greaves and Hurst of setting up a joint venture.
(b)[6]
Calculate the share of profit earned by Greaves and Hurst from the joint venture.
(c(i))[9]
Prepare the Greaves account for the joint venture.
(c(ii))[9]
Prepare the Hurst account for the joint venture.
(d)[6]
Advise Greaves and Hurst whether or not they should form a partnership. Justify your answer by weighing up the advantages and disadvantages of forming the partnership.