Partnership Accounts

Investment Fluctuation Reserve in Partnership Accounts

Admission of a Partner, Accounts, Partnership Accounts /

Meaning of Investment Fluctuation Reserve For quick understanding of journal entries. Click here For detailed understanding of the topic, read on below Meaning of Investment We all earn income and make expenses. We all save some part of our income for future for known or unknown expenses. Suppose Mr A earns Rs 10 Lakhs every

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Workmen Compensation Reserve in Partnership Accounts

Accounts, Partnership Accounts, Reconstitution, Reserves /

Meaning of Workmen Compensation Reserve Meaning of Workmen Workmen means any person (male or female) working as an employee of the firm. Traditionally the term workmen is used to refer to the people who do labour work. But here it can be an employee working at any level in the organization or doing any kind

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Past Adjustments in Partnership Accounts

Accounts, Partnership Accounts, Partnership - Fundamentals /

What are Past Adjustments Past adjustments refer to corrections made to the accounts of a partnership for past transactions that were not properly recorded or recognized at that time. These adjustments are necessary to reflect the true financial position and performance of the partnership. In previous classes we have studied the chapter rectification of errors.

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