Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve all the questions due to it connected to each other and to make the answer in one direction. -------- 1. Take a Business;

please solve all the questions due to it connected to each other and to make the answer in one direction.

--------

image text in transcribed

1. Take a Business; it can be real or imaginary. Give a brief description about your Partnership business. (1 marks) 2. List and explain various contents involved in partnership deed of your partnership business. (1 marks) 3. Based on imaginary figures, prepare profit and loss appropriation account and partners' capital account. (3marks) 4. Based on imaginary figures if a new partner coming (admission of a partner), what are the procedures/ calculations/ accounts you need to prepare in your business? (1.5marks) 5. Based on imaginary figures if a partner retiring, what are the procedures/calculations/ accounts you need to prepare in your business? (1.5marks) 6. Based on imaginary figures if the partners deciding to liquidate/dissolve, what are the procedures/ journal entries/ calculation you need to prepare in your business? (2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Reporting, Analysis And Decision Making

Authors: Shirley Carlon

6th Edition

0730363279, 9780730363279

More Books

Students also viewed these Accounting questions

Question

=+ b. What is the equilibrium interest rate?

Answered: 1 week ago