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AA1 - Chapter 4 Joint Ventures (2005) Suggested Answers page 4 Exercise 4-2 Books of Alvin, Managing Partner Feb.

. 12 Joint Venture 10,000

Cash 10,00014 Joint Venture 2,000Larry 2,00015 Cash 9,000Larry 7,500Joint Venture 16,50020 Cash 3,000Joint V enture 3,00020 Joint Venture 7,500Income fro m Joint Venture 4,287.50Larry 3,212.5010% commission on net purchases to Alvin25% commission on own sales20 Cash 2,287.50Larry

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