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Introduction to Partnership Final Accounts

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Financial Accounting Partnership Final Accounts Introduction to Partnership Final Accounts
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In this video, Prof. Prashant Kotian start with subject Accountancy and Financial Management. and also explain the chapter of Partnership FInal Account


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Internal Reconstruction
13 Topics
Introduction and Alteration of Share Capital Method
Variation in Shareholders Rights and Reduction in Share Capital Method
Compromise or Arrangement Method
Utilisation of Capital Reduction
Internal reconstruction – Journal Entries
Balance Sheet Schedule III
Capital Reduction A/c – Contingent Liability – Part 1 of 3
Capital Reduction A/c – Contingent Liability – Part 2 of 3
Capital Reduction A/c – Contingent Liability – Part 3 of 3
Capital Reduction A/c & Balance sheet Schedule III – Part 1 of 4
Capital Reduction A/c & Balance sheet Schedule III – Part 2 of 4
Capital Reduction A/c & Balance sheet Schedule III – Part 3 of 4
Capital Reduction A/c & Balance sheet Schedule III – Part 4 of 4
Investment Accounting
20 Topics
Introduction to Investment Accounting
Accounting for Investment in Debentures
Journal entries of Accounting for Investment in Debentures
Bonds and Debentures – Part 1 of 3
Bonds and Debentures – Part 2 of 3
Bonds and Debentures – Part 3 of 3
Bonds and Debentures – Quarterly Interest on Debentures
Bonds and Debentures – Half yearly Interest on Debentures
Bonds and Debentures – Annual Interest on Debentures
Bonds and Debentures – Brokerage Charges
Accounting of Investment in Shares
Accounting of Investment in Shares – Bonus Issue – Part 1 of 2
Accounting of Investment in Shares – Bonus Issue – Part 2 of 2
Accounting of Investment in Shares – Multiple Investment – Right Issue
Accounting of Investment in Shares – Valuation as per weighted average – Part 1 of 2
Accounting of Investment in Shares – Valuation as per weighted average – Part 2 of 2
Accounting of Investment in Bonds and Shares
Accounting of Investment – Fully Convertible Debentures into Equity Shares
Accounting of Investment – Partly Convertible Debentures into Equity Shares – Part 1 of 2
Accounting of Investment – Partly Convertible Debentures into Equity Shares – Part 2 of 2
Final Accounts of Companies
13 Topics
Format of Balance sheet
Profit and Loss Account, Adjustment on Tax
Assessment record
Adjustments
Financial Statement with Adjustments – Part 1 of 3
Financial Statement with Adjustments – Part 2 of 3
Financial Statement with Adjustments – Part 3 of 3
Redemption of Preference Shares
Shares fully paid up out of General Reserve
Bonus Shares and Contingent Liability – Part 1 of 2
Bonus Shares and Contingent Liability – Part 2 of 2
Rectification of Errors in Accounting Records
Case Studies
Buy Back of Shares
11 Topics
Introduction to Buy Back and its difference with redemption
Journal entries, Equations and Formats of Maximum possible Buy Back
Buy Back at Par, Premium and Discount out of Profits
Calculation of Fresh issue and Amount of Buy Back
Determining Maximum Number of Shares for Buy Back
Equations of Maximum Buy Back
Buy Back with Bonus Issue
Maximum possible Buy back when offer price not given
Different Loan Funds, Limit on General Reserve
Offer Price not given – Part 1 of 2
Offer Price not given – Part 2 of 2
Partnership Final Accounts
14 Topics
Introduction to Partnership Final Accounts
Minimum Profit Guarantee
Bad Debts
Sale / Return
Income Received in Advance
Sacrificing Ratio
Profit & Loss A/c before and after admission
Apportionment
Bifurcation of Trading
Retirement and Death
Difference between Accounting on Death and Retirement of a Partner
Death of a Partner
Retirement of a Partner
Partnership Deed
Piecemeal Distribution of Cash
11 Topics
Introduction to Piecemeal Distribution of Cash
Excess Capital
Payment of Realisation Expenses
Calculation of Profit Sharing Ratio
Statement of Excess Capital
Highest Relative Capital Method
Proportionate Capital
Security of Creditors
Secured Loan Settlement
Contingency Reserve
Remuneration given to Partner
Amalgamation of Firms
16 Topics
Introduction to Amalgamation of Firms
Net Payment Method
Balance Sheet of Vendor Firm
Calculation of Purchase Consideration
Goodwill Raised and Written off
Goodwill Raised and Partly Written off
Amalgamation of Firmas – Journal Entries
Journal of Purchasing Firm
Amalgamation of Sole Trading Concern
Journal of Two Traders
Adjustment of Overdraft
Balance Sheet in the New Firm
Balance after Amalgamation
Amalgamated Balance sheet
Outstanding Income
New Firm
Conversion / Sale of a Partnership Firm into a Limited Company
15 Topics
Introduction to Conversion / Sale
Authorised Capital
Journal & Ledger of Firms
Assets taken over by Partners
Investment and Loan
Bills Payable
Joint Stock Company
Sale of Shares received as P.C.
Redeemable Preference Shares
Surplus Cash
Commission
Purchasing Company
Allotment of Shares
Balance sheet after Acquisition
Revalued Property
Amalgamation, Absorption and External Reconstruction
21 Topics
Introduction to Amalgamation
Purchase Consideration Methods
Purchase consideration sums
Journal Entries in books of Selling Company
Journal Entries in books of Purchasing Company – Part A
Journal Entries in books of Purchasing Company – Part B
Concept of Statutory reserve and Liquidation expenses
Net Asset method – Part 1 of 2
Net Asset method – Part 2 of 2
Merger of two companies – Part 1 of 2
Merger of two companies – Part 2 of 2
Purchase Method – Part 1 of 3
Purchase Method – Part 2 of 3
Purchase Method – Part 3 of 3
Statutory reserve & Inter Company Loan – Part 1 of 2
Statutory reserve & Inter Company Loan – Part 2 of 2
Intrinsic Value method – Part 1 of 2
Intrinsic Value method – Part 2 of 2
Export profit reserve – Part 1 of 2
Part 2 of 2
Part W
Accounting of Transactions of Foreign Currency
12 Topics
Introduction to Accounting of Transactions
Import and Foreign Currency Borrowings
Import of Assets and Advanced Payment
Journal and Ledger A/c on Import of Goods
Foreign Currency Transaction – Export of Goods
Import and Export, FEF A/c
Export and Bank Charges on Remittance
Op Bal of Foreign Debtors & Creditors
Debtors A/c and FEF A/c
Foreign Exchange Fluctuation Account
Asset purchased out to FCL
Loan And Interest
Liquidation of Companies
13 Topics
Introduction to Liquidation of Companies
Format of Statement of Affairs
Statement & Deficiency Account
Deficiency Account
Sums on Deficiency Account
B List Contributories
Liquidator’s final statement of accounts
Distribution of cash to equity shareholder
Call on Equity Shareholders
Equivalent equity shares
Liquidators & Receiver Cash a/c
Calls on contributories
Overriding Preferential payments
Underwriting of Shares and Debentures
8 Topics
Introduction to Underwriting
U/W liability & journal
Sole Underwriting
Joint Full U/W Unmarked App
Joint Underwriting & Journal
Firm Underwriting
Liability, Commission, Journal
Methods of treating UW
Accounting for Limited Liability Partnership
11 Topics
Introduction to Accounting for Limited Liability Partnership
Net loss and Loss by fire
Admission of Partner
Dishonored bill, unrec sales, acc int
Sale of Asset, int on cap and Drawing
Provident fund, Sale or Return
Adjustment of fixed assets
Sole Traders in to LLP.
Liability not taken over
Amg of Sole trader with a firm
Conversion of partnership in to LLP
Accounting Standard 1
1 Topic
Disclosure of Accounting Policies
Accounting Standard 2 - Inventory Valuation
1 Topic
Inventory Valuation
Accounting Standard 2
6 Topics
Systems and methods of Inventory Valuation
Stock Valuations,COGS and Gross Profit
Shortage of stock and returns
Carriage inward, trading and P&L account
Verification/Reconciliation of stocks
AS-9 – Revenue Recognition
Final Accounts of Manufacturing Concern
13 Topics
Formats with Closing entries
Balance Sheet format, Adjustments
Hidden Adjustments
Manufacturing, Trading and Profit and Loss Account
Adjustments for Free Samples,Doubtful debts
Sale on Approval and mutual debt
Interest on Loan and Capital
Interest on Loan and Investments
Ratio of expenses
Unrecorded purchases provision on creditors
Transfer at Selling Price
Stock of stationery and sale of asset
Calculation of cost of closing stock
Accounting for Hire Purchase
14 Topics
Formats of Interest Calculation
Interest Calculations
Calculation of Cash price and Journal Entries
Journal Entries under Asset Accrual Method And Interest Suspense Method and balance sheet extract in books of hire purchaser
Journal Entries under all Methods.
Journal Entries and balance Sheet Extract under Credit Purchase Method
Journal Entries and Ledgers in books of Vendor
Ledger Accounts in books of Hire purchaser and Vendor’s
Instalments, Interest half Yearly
Instalments half yearly but Interest yearly
Repossession Of Goods
Partial Repossession of goods
Hire Trading Account
Stock and Debtors Method
Capital Revenue : Expenditure and Receipts
4 Topics
Introduction to Expenses and its Types
Receipts and its type and deferred Items
Part 1 of 2 Classification of Given items
Classification of expenses and Income
Departmental Accounting
12 Topics
Meaning, Importance, Formats, of Departmental A/c
Stock Reserve,Ratios of Purchase,Sales, Floor Space, and No. of Employees
Ratios of Expenses are given
Inter-Departmental Transfer
Departmental Accounts with General Profit and Loss A/c, and Multiple transfers.
effects of general Profit and Loss A/c and Stock Reserve
Departmental Accounts with Balance Sheet,and Depreciation Adjustment
Departmental Accounts with Balance Sheet,and Manager’s Commission Sales
Inter-Departmental Transfer at cost plus markup, ratio of direct wages.
Inter-Departmental Transfer at profit and expenses in General Profit and Loss A/c
Manager’s commission on profits after commission charged multiple inter-department transfer with return
Calculation on proportion of closing stock.
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