Interest on Loan by partner to Firm
Meaning of Loan by partner to firm Loan Concept Animation Loan Concepts Firm Partner 💰...
Charge Against Profits vs Appropriation of Profits
Meaning of Charge Against profits All the items which go to firms profit and loss...
Partner Capital A/c
Meaning of Capital Meaning – In simplest terms , Capital means the amount that a...
Interest on Drawings
What is drawings in Partnership Accounts Drawings means any amount withdrawn , either in cash...
Interest on Capital in Partnership
What is Interest on Capital Meaning – Interest on Capital is an appropriation of profits...
What is Partnership
Meaning of Partnership A partnership is an association between two or more persons who agree...
Provisions applicable in the absence of partnership Deed
What is Partnership Partnership is an association between two or more persons who agree to...
Factors in Depreciation calculation
Original Cost of Asset This is the cost of the asset. It is also known...
Objectives for providing depreciation
Show true and fair view of financial statements Financial Statements are made on historical cost...
Meaning of Depreciation
Depreciation is the reduction in the value of an asset due to : normal wear...
Goodwill Accounting on retirement of a partner
The retiring partner is entitled to his share in firms Goodwill as he has also...
Gaining Ratio and Sacrificing Ratio – Difference
DescriptionGaining RatioSacrificing RatioFormula for calculationNew profit Sharing Ratio Less Old Profit Sharing ratioOld profit sharing...