1. Take a Business; it can be real or imaginary. Give a brief description about...
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Accounting
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? (2marks)
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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? (2marks) 