(a)[7]
Prepare the memorandum joint venture account. Dates do not need to be shown.
(b)[7]
Prepare the joint venture account with Adam in Mary’s books. Dates do not need to be included.
(c)[4]
Explain one benefit for Adam and one benefit for Mary of entering the joint venture.
(d)[3]
State three differences between a joint venture and a consignment.
(e)[4]
Explain two disadvantages for Adam of forming a partnership with Mary.