Are you trying to find details concerning Partnership
Is it vital for you to obtain the appropriate details concerning Partnership?
Do you wish to get details concerning Partnership?
In this video I show 14 examples of partnership appropriation accounts.
I start of with the basics of sharing profit using different methods: –
– when no profit sharing ratio is given,
– when the ratio is given as percentages,
– when the ratio is given in traditional ratio format,
– when the profit is shared in the ratio of the partners’ capital balances,
– when there are more than 2 partners.
I then add the salary item and show that not all partners are necessarily paid salaries. Also, we discuss annual salaries and monthly salaries.
I go on to include interest on capital balances and then interest on drawings.
With the interest on drawings I show situations where the drawings amount is not outstanding for the entire year and how that is to be treated.
I also include special case examples where: –
– the appropriation account is not drawn up for the entire year,
– the net profit figure my require adjustment before appropriation begins,
– there is a loss after appropriation.
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