25 %
75 %

Published on April 26, 2014

Author: Neelu333




• Section – 4 “Partnership is the relation between persons who have agreed to share the profit of the business carried on by all or any of them acting for all".

Characteristics of Partnership Association of Persons Agreement

Profit sharing Management

Partnership Deed • Agreement between partners in oral or writing is known as Partnership Deed. It helps in resolving future disputes.

Kinds of Partners • Active partner • Sleeping Partner

• Nominal Partner • Partner in Profits

Kinds of Partnership • Partnership at Will • Particular Partner

Final Accounts 1. Capital Accounts 2. Profit & Loss Appropriation Account • Interest on Capital • Interest on Drawings • Salaries to Partners • Distribution of Partners 3. Guarantee of Profit to a partner

Interest on Capital i. Interest on Capital A/c Dr. To Partner’s A/c (individually) ii. Profit & Loss Appropriation A/c Dr. To Interest on Capital “OR” iii. Profit & Loss Appropriation A/c Dr. To Partner’s Capital A/c

Interest on Drawings i. Partner’s Capital A/c (individually) Dr. To Interest on Drawings A/c ii. Interest on Drawings A/c Dr. To Profit & Loss Appropriation A/c “OR” iii. Partner’s capital A/c (individually) To Profit & Loss Appropriation A/c

Salaries to Partners i. Salaries to Partners A/c Dr. To Partner’s Capital A/c (individually) ii. Profit & Loss Appropriation A/c To Salaries to Partner A/c “OR” iii. Profit & Loss Appropriation A/c To Partners Capital A/c

Add a comment

Related presentations

Related pages

ITFT College

ITFT has successfully placed more than 32500 students under undergraduate and post graduate courses in the college with the renowned brands in the country.
Read more

Bachelors in Rural Development Management — ITFT College

Project Practicum & OJT; HRD & Skills Enhancement for Rural Development; Rural Business Policy & Strategic Management; Legal Environment for Rural Business
Read more

itft college chandigarh

International business management is one such career course that offers ample scope ... Institute of technology and future management trends called as ITFT.
Read more

ITFT College Campus Images, Video | CollegeSearch

ITFT College: View infrastructure, placement, courses, fees, photos and reviews. Apply online to ITFT College on CollegeSearch.
Read more

Image Enchancement | ITFT Finishing School - An ITFT Venture

Image Enchancement. ... In the ITFT Finishing School learn what to wear for different social and work occasions and for ... Wardrobe and apparel management;
Read more

Top 25 Itft profiles | LinkedIn

Here are the top 25 Itft profiles on LinkedIn. Get all the articles, experts, jobs, and insights you need.
Read more

ITFT Education Group | LinkedIn

Learn about working at ITFT Education Group. Join LinkedIn today for free. See who you know at ITFT Education Group, leverage your professional network ...
Read more

Itft India (itftindia) | Pearltrees

Itft India. Mobile as a Competitive Advantage. Whether your day-to-day focus is business management, marketing, sales, SEO, social media, advertising ...
Read more