Accounting for Partnership ( Fundamentals, Goodwill , Change is PSR, Admission, Retirement, Death, Dissolution) - Grade XII ( Accountancy)
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16 modules
Access till 2025-04-30
Learn accounting for partnership in Grade XII Accountancy
Overview
This course provides a comprehensive understanding of accounting for partnership in Grade XII (Accountancy). The course covers important fundamentals related to partnership accounting, including concepts like goodwill, changes in profit sharing ratio (PSR), admission of new partners, retirement of partners, death of partners, and dissolution of partnership.
Key Highlights
Fundamentals of partnership accounting
Calculation and treatment of goodwill
Changes in profit sharing ratio
Admission of new partners
Retirement of partners
Death of partners
Dissolution of partnership
What you will learn
Comprehensive Learning Outcomes
Understand the fundamentals of partnership accounting and the concept of goodwill
Master Changes in Profit Sharing Ratio
Learn how to calculate and account for changes in profit sharing ratio among partners
Explore Admission and Retirement of Partners
Gain insights into the procedures and accounting treatments involved in admitting or retiring partners
Understand Death and Dissolution
Learn the accounting implications of partner's death and the process of dissolution of partnership
Modules
CHAPTER 1- FUNDAMENTALS OF PARTNERSHIP [SECTIONS A - F]
A) Introduction to Profit and Loss Appropriation Account (2 Lectures+1 pdf )
B) Preparation of Accounts ( Profit and loss Appropriation and Capital Accounts)- 2 Lectures
3 attachments • 58.55 mins
C) Interest On Drawings and Interest on Capital
3 attachments • 2 hrs
D) Past Adjusments
4 attachments • 1 hrs
Past Adjustments -Lecture 1 ( Introduction and Question 28)
Past adjustments - Lecture-2 (Question 24)
Past adjustments - Lecture-3 (Q27 and Q30)
PDF of questions discussed in Lecture 1 ,2 and 3 of this section (Questions 24,27,28 and 30 )
2 pages
E) Guarantee to Partners
3 attachments • 36.14 mins
Guarantee lecture-1 (Question 34)
Guarantee-lecture - 2 (Question 36 and Question 37)
PDF of questions discussed in Lecture 1 and 2 of this section (Questions 34,36 and 37)
1 page
F) Master Questions with Solutions and Quiz
3 attachments
Fundamentals Master Question Bank
15 pages
Step by Step Solutions to Fundamentals Master Question Bank
30 pages
QUIZ ON FUNDAMENTALS OF PARTNERSHIP (MCQs)
CHAPTER -2 VALUATION OF GOODWILL
5 attachments • 1 hrs
Methods of calculating goodwill (Average Profit Method, Weighted Average Profit Method, Super Profit Method, Capitalisation Method) Q2,3,4,9
Valuation of Goodwill - Past Adjustments Q2,3,4
Assignment for Valuation of Goodwill
ASSIGNMENT -VALUATION OF GOODWILL
6 pages
SOLUTION TO ASSIGNMENT -Goodwill Nature and valuation
9 pages
CHAPTER 3- CHANGE IN PROFIT SHARING RATIO
5 attachments • 1 hrs
Change in Profit Sharing Ratio Lecture - 1 (Question 2,3,4 and 6)
change in Profit Sharing Ratio Lecture - 2 (Question 7 and 9)
QUIZ ON CHANGE IN PROFIT SHARING RATIO(MCQs)
Assignment-Change in profit sharing ratio
6 pages
Solution to Assignment -change in profit sharing ratio
12 pages
ADMISSION OF A PARTNER
11 attachments • 5 hrs
Admission-Lecture - 1
Admission - Ratio and Goodwill-Lec-2
Lecture 3-Admission - Goodwill contd
Lecture 4-Admission - Hidden Goodwill
Lecture 5-Admission - Q20,21
Lecture 6-Admission - Q10,16,22
Lecture 7-CAPITAL ADJUSTMENT-Q27
Lecture 8-CAPITAL ADJUSTMENT-Q32
QUIZ ON ADMISSION OF A PARTNER(MCQs)
Assignment-ADMISSION OF A PARTNER
23 pages
Solutions to Assignment-Admission of a partner
45 pages
RETIREMENT OF A PARTNER
7 attachments • 2 hrs
Lecture 1- Retirement(ratio)
Lecture 2 - Retirement Q3,8,13
Lecture-3 Retirement hidden Goodwill and Full Fledged Question Q14,17
Lecture -4 Question 18
Lecture -5 Question 22 Loan Account
QUIZ ON RETIREMENT OF A PARTNER(MCQs)
Solved Assignment on Retirement of a partner
24 pages
DEATH OF A PARTNER
7 attachments • 1 hrs
Introduction - Preparation of deceased partner capital Account
Lecture-2 (Question-3) - Preparation of Executor's Account
Lecture-3 (Question-13) - Preparation of Executor's Account
Lecture-4( Question 4 and 5)
QUIZ ON DEATH OF A PARTNER(MCQs)
Assignment - DEATH OF A PARTNER
11 pages
Solutions to Assignment - Death of a partner
17 pages
DISSOLUTION OF PARTNERSHIP
Lecture-1 Dissolution Introduction
5 attachments • 51.2 mins
Lecture-2 Dissolution Q1
Lecture-3 Dissolution Q3
QUIZ IN DISSOLUTION OF PARTNERSHIP(MCQs)
Assignment - DISSOLUTION OF A PARTNERSHIP FIRM
11 pages
Solution to Assignment - Dissolution of a partnership firm
15 pages
TOPPER'S ANSWER SCRIPT-CBSE 2023
1 attachment
Topper's answer script 2023
19 pages
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