OK, well the concept of "first in the table" is meaningless in a relational database without something to order by. What DBMS are you using? For Oracle I know a trick you can use. Otherwise, I would suggest you need to add an extra column to Table1 and Table2:
Table1
Master_id
Volume1_amount
Seq_no
Table2
Master_id
Volume2_amount
Seq_no
where Seq_no is 1 for the 1st record for each Master_id, 2 for the second etc.
Then your query becomes:
select coalesce(t1.master_id,t2.master_id), t1.volume1_amount, t2.volume2_amount
from t1
full outer join t2
on
(t1.master_id = t2.master_id
and t1.seq_no = t2.seq_no
);