Sole Proprietorship and Partnership

Chapter 18: Sole Proprietorship and Partnership (58 videos)

18.1: Proprietorship

1. Proprietorship and its Accounting Treatment
2. Comparison between Proprietorship and Partnership

18.2: Partnership

1. Partnership and its kinds.

18.3: Distribution of Profit and Loss

1. Partnership Agreement
2. Clauses under Partnership Agreement
3. More on Clauses under Partnership Agreement
4. Partnership Rules in the Absence of an Agreement
5. Entries for Disribution of Profit
6. Profit and Loss Appropriation Account
7. Interest on Capital and Drawings
8. More on Interest on Capital and Drawings
9. Fixed and Fluctuating Capital
10. More on Fixed and Fluctuating Capital
11. Change in Profit sharing ratio
12. Average Profit Method of Goodwill
13. Super Profit Method of Goodwill
14. Capitalization Method of Goodwill

18.4: Admission of Partners

1. Admission of a New Partner
2. Calculation of Sacrifice Ratio
3. Example: Calculation of Gain or Sacrifice Ratio of old Partners
4. Revaluation of Assets & Liabilities
5. Goodwill on Admission: When Goodwill Account does not Exist
6. Premium Method for the Treatment of Goodwill
7. Revaluation and Memorandum Revaluation Method
8. Goodwill on Admission: Where Goodwill Account already Exists
9. Adjustment regarding Capital
10. Treatment of Reserves on Admission of a New Partner

18.5: Retirement of Partners

1. Retirement of a Partner
2. Treatment of Goodwill on Retirement
3. Payment to the Retiring Partner

18.6: Death of Partners

1. Example: Deceased's Share of Goodwill and Gaining Ratio
2. Joint Life Policy

18.7: Dissolution of Partnership

1. Dissolution of Partnership and Partnership Firm
2. Accounting Treatment: Dissolution of Partnership Firm
3. Modes of Dissolution of a Firm
4. Dissolution of Partnership Firm by Court of Law
5. Settlement of Accounts on Dissolution
6. Realisation Account
7. More on Realisation Account
8. Treatment of Realisation Expenses
9. Garner vs Murray Rule
10. Dissolution of the Firm-When all partners are Insolvent
11. Closing of Books in case Partners are Insolvent

18.8: Numericals

1. Partnership Accounts - Numerical 1
2. Partnership Accounts - More on Numerical 1
3. Numerical 2: Profit/Loss Distribution under Partnership
4. More on Numerical 2: Profit/Loss Distribution under Partnership
5. More on Numerical 2: Profit/Loss Distribution under Partnership
6. Numerical 3: Journal Entries for Revaluation of Assets
7. Numerical 4: Partnership-Admission of a Partner
8. More on Numerical 4: Partnership-Admission of a Partner
9. Numerical 5: Partnership-Revaluation Account on admission of a New Pa
10. Numerical 6: Partnership-Balance Sheet on admission of a New Partner
11. Numerical: Partnership-Journal Entries on death of a Partner
12. More on Numerical: Partnership-Journal Entries on death of a Partner
13. Numerical: Dissolution of the Firm
14. Numerical: Accounts to close the Books (Realisation & Cash Accont)
15. Numerical: Accounts to close the Books (Capital Accont)