MCQ Past Adjustments – Partnership accounts This is another MCQ Test on the past adjustments has 15 practice questions. Test your knowledge about the partnership accounts – Fundamentals , concepts of past adjustments, their meaning, format for creating adjustment table, journal entries for past adjustments , two methods of doing past adjustments, single entry method […]
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MCQ Guarantee of Profits – Partnership accounts This MCQ Test on the guarantee of profits has 20 practice questions. Test your knowledge about the partnership accounts – Fundamentals , concepts of guarantee of profits, meaning of guarantor and guaranteed partners, journal entries for guarantee etc. The quiz suits well for conceptual clarity for your board
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Understanding Fictitious Assets – Complete Guide for Students 💰 📊 🧮 Fictitious Assets Meaning A complete guide to one of accounting’s most interesting concepts What are Fictitious Assets? 🤔Simple Definition Think of fictitious assets as “fake assets” – they appear on the assets side of a balance sheet, but they’re not really assets! They’re there
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Master Debit & Credit Rules – Interactive Accounting Guide Fundamental Rules of Debit & Credit! 🏆 Your journey to accounting mastery starts here. Let’s make it simple, fun, and unforgettable! What Are Debit & Credit Rules? 🤔 Think of debit and credit rules as the GPS of accounting! Just like GPS tells you which direction
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Change in Profit Sharing Ratio & Goodwill Compensation – Complete Guide 📊 Accounting for Goodwill in Partnership When partners change their profit sharing ratio ⚖️ 🎯 What is Profit Sharing Ratio? Profit sharing ratio is the proportion in which partners share the profits and losses of their business. 🤝 Equal Partners When partners contribute equally,
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Capitalization Method of Goodwill Valuation in Partnership Accounts 💰 Capitalization Method of Goodwill Valuation Capitalization Method of Goodwill Valuation under Partnership Accounts! Let’s explore this step-by-step with real examples and interactive calculations. What you’ll learn: Two types of capitalization methods, step-by-step calculations for each method, practical examples, and key formulas. 🎯 What is the Capitalization
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Posting Journal Entries to Ledger – Interactive Accounting Tutorial 📚 Posting Journal Entries to Ledger Master the Art of Double-Entry Bookkeeping with Interactive Examples 📋 Golden Rules of Posting If Account is DEBITED in Journal → Post to DEBIT SIDE in its Ledger → Write the Credit Account name in Particulars If Account is CREDITED
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Average Profits Method – Learn Accounting 📊 Average Profits Method Learn how to calculate goodwill using average profits – made simple for students! Two Types (a) Simple Average Profits Method b) Weighted Average Profits Method 💡 What is Simple Average Profits Method? The Average Profits Method is used to calculate the goodwill of a business.
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Accounting Errors & Profit Impact | Simple Guide for Students 📊 Goodwill Valuation : Correcting Profit impact due to errors in Capital and Revenue Expenditure treatment What We’ll Learn Today: ✅ What are Capital and Revenue Expenditures? ✅ Common accounting mistakes ✅ How to calculate profit impact ✅ Step-by-step correction methods Made Simple for Students!
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Capital vs Revenue Expenditure – Learn Accounting Basics 📊 Capital vs Revenue Expenditure Learn the difference between two important types of business expenses! 🏢 💰 📈 A simple guide for students to understand accounting basics 🏗️ What is Capital Expenditure? Capital Expenditure (CapEx) is money spent to buy or improve long-term assets that will benefit
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