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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Meaning of Loan When you need money and you borrow it from someone then it is called loan. You can borrow money from anyone like your friend or your relatives or from a bank or anyone else. When you borrow money then you have to repay it back after certain time. You also need to
Profit and Loss appropriation account MCQ Quiz The below Profit and Loss appropriation account MCQ are designed for conceptual clarity. Attempt the test and check your concepts now!!! MCQ Quiz – Practice Questions MCQ Quiz Question 1 What is the primary purpose of preparing a Profit and Loss Appropriation Account? To calculate the net profit
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MCQ Quiz – Practice Questions MCQ Quiz Question 1 Which of the following closely resembles a charge against profits Distribution of profit to partners Deduction from revenue to determine net profit/loss Allocation of reserves Payment made only when there is profit B Correct Answer: Deduction from revenue to determine net profit/loss A charge against profits
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