Accounting for partnership firms- Fundamentals. class 12 Accounts Chapter 1 Part 2 | session 2023-24

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[ananyasolanki]

3 items, deducted from net profits are -
1) interest on loan
2) manager commission
3) rent paid to partner

[arunpratapsingh]

According to partnership act 1932
1_ profit sharing ratio will be equal
2-no salaries, no commission, no interest on drawing
3-interest on partner loan @6% pa (charge) loan give by patners firm

4no intrest on loan when loan taken by partners from firm
5-interest on capital, salary commission provide only out of profit if given in deed

[grownote]

What i learnt in this lecture.
Rules as per partnership act 1932-
1. Profit should be distributed equally.
2. No commission, no salary, no interest on capital, no interest on drawings.
3. Interest on loan to partner should be given at 6% per annum.
No interest on loan should be charged from partner.
4. If Interest on capital and salary is given in partnership deed. Then it should only be deducted from profit.

Items to deducted from net profit in p & l appropriation account-
1. Interest on loan
2. Commision to manager
3. Rent paid to partners

[GoldG-czry]

First profit sharing ratio will be equal
Second no commission no income
Interest on loan 6% per annum when partner provide loan to firm
No interest charged when partner withdrawal from firm

[shadowgaming-bcvt]

Students please belive sir blindly because i have average student in class 10 but in class 11 i found this channel and i have 80% because of sir in 1 year now my target is 90% Thankyou sir ❤❤

[BajrangBali-hcmf]

Bhai logo Tum sabh se kh rha hu Mene apni Puri sal class 12 Sunil panda sir se hi Kari hai and in that one year I realise this is best teacher in whole world and now I prepare for cuet with Sunil panda sir

[uzairkhan]

I think more than 5०% students are from previous batch than current batch (including me) 😂😂😂😂😂😂😂😂😂

[adnansiddiqui]

sir koi problem ho to btana aap hame bus padaiye koi gali de apko btana

[shivamgadariya]

Legend watched this video in 2x speed 😂😂

[kumarkomal]

If partnership deed is silent or not maintained, then provisions of partnership act 1932 will be followed :-
Profit sharing ratio will be equal
No salaries, commisson, interest on capital, interest on drawings etc will be given.
interest on loan given by partner to firm will be @6% p.a
if partnership deed is maintained then interest on capital, salary to partner will be given only out of profits.
Items deducted from net profit carried down from profit and loss a/c :-
interest on partner loan, manager commission, rent paid to partner.
[since these are charge against profit]

[talkativesinha]

Sorry to say sir kya ap har year 12 th ka batch he start kriyega 😭
Please sir ab agey gyen hue baccho ka bhi soch lijiyen

[manjeetkinng]

If a firm didn't registered in Partnership Act 1932, and neither made any Deed

A partner want salary will he get or not?

Please Reply Sir...🙏

[RakeshYadav-ufvj]

2024 -2025 student attendance here ✋✋😂😂

[ilu]

Thank u so much sir for your teaching .I have completed and passed my 12th STD 2022-23 batch 🥰😍❤️.
Edit for kids: Iam from karnataka 2nd puc board 🤞.
Results has declared date 21st April 😍.

[itzzintrovert]

Partnership act 1932
1)profit sharing ratio will be equal
2)no interest on capital, no salary, no commission, no interest on drawings
3) interest on loan given to partners by firm @6% p.a.
No interest on loan charged to partners
4) interest on capital, salary and commission given to partners out of profit, if partner in deed
Thank u sir for teaching us❤ because of you I am able to start my 12th preparation earlier 💯😊

[manveersingh]

. Profit sharing ratio will be equal in all partner

.no intrest on capital or drawing no salary ;
Commission .

. Intrest on loan 6%which given by partner to firm .
No intrest paid to firm when partner taken loan from firm .

[ddkiller]

Profit sharing ratio will be equal
No salary
No commesion
No iod
Intrest on partner loan 6% intrest

[Rupalirao]

Charu sb ke sth bura kar rhi thi isliye charu ko 12 % p a nhi mila intrest 😂😂😂

[MVGREEK]

Jiska mujhe tha itnzaar jiske liye Dil tha dekaar wo video aa gyi aa gyi aajj Mera Maan tho ab pata Jana hai ajj exam Dena hai warna maar Jana hai 😅😅

[Tanusharma..]

- partner loan
- manager commission
- Rent
And thankyou so much for this...