Capital Accounts of Partners on Admission
Capital accounts of the partners can be one in case of fluctuating capitals or two i.e. capital accounts and current accounts in case of fixed capitals.
Admission of New Partner
12th accounts
Change in Profit Sharing Ratio
Revaluation Account of Partnership Firm
Revaluation account is a nominal account prepared for the purpose of distributing and transferring …
Change in Profit Sharing Ratio
Sacrifice Ratio
Sacrificing ratio = Old Profit sharing ratio – New Profit sharing ratio [Sacrifice=old share-new share]
Change in Profit Sharing Ratio
Gaining Ratio
Gaining ratio = New Profit sharing ratio – Old Profit sharing ratio [Gain=New share-Old share]
Fundamentals of Partnership Accounting
Past Adjustments – Illustrations
A, B and C, are partners with capitals of ₹100,000, ₹200,000 and ₹300,000 respectively sharing …
Project Work in Accountancy
Annual Reports of 20 Companies for Project Work
12th Class students require Annual Reports of companies for completing their project work.
Fundamentals of Partnership Accounting
Capital Ratio – Ratio of Effective Capitals
Sometimes the Profit-sharing ratio is based on partners’ capitals which keep on changing with …
Fundamentals of Partnership Accounting
Fixed and Fluctuating Capital Accounts of the Partners
If partners decide to keep their capitals intact and same throughout the accounting year they prepare …
Change in Profit Sharing Ratio
Change in Profit Sharing Ratio of Partners
Change in profit sharing ratio of partners involve sacrifice or gain made by the partners…
Fundamentals of Partnership Accounting
Partnership Deed
Partnership deed is a written agreement among the partners containing the terms and conditions …