Aulia, Arissa and Aydeen are in joint venture of interior design and house decoration. Below are the transactions that occurred in the last months :

March	1	Aulia paid for design cost and printing for RM16,000
	3	Arissa bought material for wainscoting and wall skirting for RM30,000
	5	Aulia paid a transportation cost of RM500
	6	Arissa paid wages cost of RM4,670 to install wainscoting
	8	Aydeen responsible to pay labour cost for wall skirting installation and paid a total of RM2,000 for that purpose.
	9	Aulia bought carpet, side table and wall paint at a cost of RM13,500
	10	Arissa paid wiring cost of RM1,725
	11	Arissa paid cleaning cost of RM2,000
	12	Aydeen receive first payment from client amounted to RM87,540
	13	Aulia paid for vinyl flooring of RM15,000 including labor cost.
	14	Arissa paid RM3,000 for mirror installation in dining room
	29	Aydeen received another RM 30,000 as final payment from client.
	30	Aulia paid RM1,000 for finishing task labor.

Required:

1. Show the joint venture account of all the three partners.

Prepare memorandum joint venture account. The profit or loss to be shared among Aulia, Arissa and Aydeen is based on the ratio of 1:1:2 respectively.

3. Explain why the joint venture account should be kept separately.

Answer rating: 100% (QA)

Ans a BOOKS OF ARISSA JOINT VENTURE WITH AULIA AND AYDEED To bankwains and wall skirt 30000 By bank ... View the full answer