Partnership | True Or False #2ndPUC, #Accountancy, #StudyTips, #exampreparation

Partnerships Basic Concepts | Second PUC | Fill in the Blanks | Exam Prep Guide

#Partnership
#partnershipdeed
#ProfitsharingRatio
#Fixedcapitalmethod
#PandLAppropriationaccount
#InterestonDrawings
#Guarantee

In this video, we cover the basic concepts of accounting for partnerships and guide you through important True or False to help you prepare for your Second PUC Accountancy exams. We'll break down key topics like:

Time Line
00:00 Introduction
00:19 Partnership Agreement
00:42 Clauses of partnership deed
01:07 Profit sharing Ratio
01:37 Profit sharing Ratio
02:04 In the absence of Partnership Deed
02:28 Fixed capital method
02:53 Fixed capital method
03:22 P&L Appropriation account
03:46 Interest on Drawings
04:11 If there is loss, no interest on capital
04:36 Accounting treatment for Partnership
05:06 Two methods of Maintaining Capital Accounts
05:31 Profit and Loss appropriation account
05:56 Interest on partners’ capital
06:19 Guarantee of profit to a partner

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