its my first !
please #follow so that i will make more for all
it is according to class 12 syllabus ! hopefully it will weak students like me ! it contains all fundamentals of partnership firm.
it also usefull in xam times as revision notes!
for more just follow me !
fb@venuankush
class 12 / completeguide
Intermediate Accounting is also known in other universities and other programmes like Bachelor of Business Administration and Bachelor of Science in Accounting as Accounting II.Intermediate Accounting is done by students of Bachelor of Commerce of Makerere University.
its my first !
please #follow so that i will make more for all
it is according to class 12 syllabus ! hopefully it will weak students like me ! it contains all fundamentals of partnership firm.
it also usefull in xam times as revision notes!
for more just follow me !
fb@venuankush
class 12 / completeguide
Intermediate Accounting is also known in other universities and other programmes like Bachelor of Business Administration and Bachelor of Science in Accounting as Accounting II.Intermediate Accounting is done by students of Bachelor of Commerce of Makerere University.
Partnership Accounts: Introduction, Meaning, Definition, Characteristics, Contents of the Partnership Deed, Nature of the Partnership Accounts, Specimen of Capital Accounts, etc.
Detailed PPT on " Partnership act,1932" with all types,advantages,disadvantages, all important acts and position of Minor 's along with all required diagrams.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2. PARTNERSHIP-FUNDAMENTALS
DEFINITION:
According to section 4 of the Indian Partnership Act 1932,
partnership is defined as ” the relationship between persons
who have agreed to share the profits of a business carried on
by all or any them acting for all”.
Persons making an agreement to carry business for
common purpose are called partners individually and firm
collectively.
PARTNERSHIP DEED:
The document or the instrument, containing the agreement
between partners, is known as partnership deed.
3. It contains the following clauses:
1.Name of the firm and nature of the business.
2.Names and addresses of the partners.
3.The duration, if any, of partnership firm.
4.The total capital of the firm and the share of
each partner.
5.The ratio of sharing profits and losses.
6.Whether capitals are to be fixed or fluctuating.
7.Whether any interest is to be allowed on
partner’s capitals.
8.Rate of interest on advances.
4. Contents Contd…
9.Whether any interest is to be allowed on
drawings.
10.The amount of salaries or some allowance, if
any, payable to the partners.
11.The amount which each partner can withdraw
for his private expenses.
12.The provision relating to keeping of proper
books of accounts.
13.The period after which the final accounts are to
be prepared.
5. Contents Contd…
14.The audit of the accounts.
15.Admission of new partners and expulsion of
the existing ones.
16.The method of ascertaining the share of
goodwill of a partner on his retirement or
death.
17.Whether decision in the case of Garner vs
Murray is to apply in the case of insolvency of
partner.
6. RULES APPLICABLE IN THE
ABSENCE OF PARTNERSHIP
DEED
In the absence of an agreement, the under
mentioned points should be need for proper
accounting amongst the partners.
1.Profit sharing ratio : Profit and losses are to be
shared equally amongst partners.
2.Interest on loan : On any loan (apart from
capital) advanced by a partner, he/she is entitled to
interest on the same at 6% per annum.
7. 3.Interest on capital : No interest is allowed on capitals.
4.Salary to partners : Partners are not entitled for any salary or
other remuneration.
5.Interest on Drawings : No interest is to be charged on drawings.
ACCOUNT S OF PARTNERSHIP FIRM:
The net profit as shown by profit & losses account is
transferred to another account called the Profit &loss
Appropriation account.
Interest on Capital
loss losses Appropriation Account.
INTEREST ON CAPITAL:
Interest on capital A/C Dr
To Partners’ capital or current A/C.
[For Interest credited to partners capital or (current A/C s)]
xxx
xxx
P&L Appropriation A/C Dr
To Interest on capital A/C
[For transferring interest on capital]
xxx
xxx
8. INTEREST ON DRAWINGS
Partners’ capital/current A/C Dr
To Interest on drawings A/C
xxx
xxx
Interest on drawings A/C Dr
To Profit &loss Appropriation/C
xxx
xxx
9. Partners salary or commission
Interest on partner’s Loan
Profit &loss Appropriation a/c Dr
To Partner’s salary or commission a/c
[For salary credited to capital or
current a/c]
xxx
xxx
Interest on partners A/C Dr
To Partners Loan A/C
xxx
xxx
10. Profit and loss Appropriation Account:
To P& LA/C (if there is loss)
To Interest on partners capital
To partners salary
To Partners commission
To interest on partners loan A/c
To Net Profit
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxxx
By P&LA/C
(Trading profit before
adjustments as per deed)
By Interest on drawings
By Net loss (partners
capital or current a/cs)
xxx
Xxx
Xxx
xxxx
11. Capital Accounts of Partners
Fluctuating Capital
PARTNERS CAPITAL A/C
To Drawings
,, Interest on Drawings
,, Balance c/d
-
-
xxx
xxxx
-
-
xxx
xxxx
-
-
xxx
xxxx
By balance b/d
,, Interest on capital
,,Commission
,, Share of profit
,, salary
-
-
-
xxx
xxx
xxxx
-
-
-
xxx
xxx
xxxx
-
-
-
xxx
xxx
xxxx
12. Fixed Capital Method
Capital a/c
Current a/c
To balance c/d xxx
xxxx
Xxx
xxx
Xxx
xxx
By balance b/d xxx
xxxx
Xxx
xxx
Xxx
xxx
To Drawings
To Interest on
drawings
To balance c/d
-
-
xxx
xxxx
-
-
xxx
xxxx
-
-
xxx
xxxx
By balance b/d
By interest on
drawings
By salary
By commission
By share of profit
xxx
-
-
-
-
xxxx
Xxx
-
-
-
-
xxxx
Xxx
-
-
-
-
xxxx
