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Lesson Posted on 10 May Learn CBSE
Accounting for partnership: Basic concept
Deepika Agrawal
I have pursued my MBA in Finance and have 3+ years of teaching experience. I provide online and tutor's...
QUESTIONS:
Answer: A partnership deed is an agreement among the partners which contains ai! the terms of the Partnership. It generally contains the details about all the aspects affecting the relationship between the partners including the objective of business, contribution of capital by each partner-ratio in which the profits and the losses will be shared by the partners and entitlement of partners to interest on capital, interest on loan etc.
Answer: As. per Partnership Act 1932 it is not necessary that a partnership agreement must be in writing but still it is always suggested that it should be in written form Because today there are very good relationship among the partners but n future if there may be any dispute regarding any issue, a written partnership agreement will help in avoiding disputes and misunderstandings among the partners.
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Halegannada padagala artha - 1
Sandhya
I am a Kannada Assistant professor with over 5 year of experience in teaching PUC Kannada language for...
Lesson Posted on 23/08/2023 Learn Class XI-XII Tuition (PUC)
Sandhya
I am a Kannada Assistant professor with over 5 year of experience in teaching PUC Kannada language for...
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Lesson Posted on 05/02/2023 Learn Class XI-XII Tuition (PUC)
Sandhya
I am a Kannada Assistant professor with over 5 year of experience in teaching PUC Kannada language for...
Lesson Posted on 02/12/2022 Learn Class XI-XII Tuition (PUC)
Buddha bisiloorinavanu - Shabdhartha
Sandhya
I am a Kannada Assistant professor with over 5 year of experience in teaching PUC Kannada language for...
Answered on 28/01/2023 Learn Accountancy
Deepali
Programming languages trainer with having 8 years experience
The conservatism concept is a concept in accounting which refers to the idea that expenses and liabilities should be recognised as soon as possible in a situation where there is uncertainty about the possible outcome and in contrast record assets and revenues only when they are assured to be received.
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Answered on 05/03/2023 Learn Class XI-XII Tuition (PUC)
Mohd
ROI = EBIT/ Capital Employed
EBIT = ROI × Capital Employed
= 25% × 20,00,000
= 5,00,000
Intrest = 20,00,000 × 15%
= 3,00,000
Shareholders Gain = EAT ( Earning After Tax)
= (EBIT - Intrest) - Income Tax
= (5,00,000 - 3,00,000) - 60%
= 2,00,000 - 60%
= 2,00,000 - 120,000
= 80,000
Hence, the gain the shareholders due to the loan raised by the company is RS. 80,000.
Answered on 25/12/2022 Learn Class XI-XII Tuition (PUC)
Nageswararao P
M.Tech in Microelectronics with 14+ years industry experience
Answered on 09/02/2018 Learn Class XI-XII Tuition (PUC)
Sujoy D.
Tutor
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Answered on 23/05/2023 Learn Class XI-XII Tuition (PUC)
Emil
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