Introduction To Partnership And Partnership Final Accounts Class 12th BK Practical Problem Q.9 Pg 61

Описание: 📌 Class 12 HSC – BK & Accountancy
📘 Chapter 1: Partnership Final Accounts
📝 Practical Problem – Q.9 | Pg No.61

Welcome to SMS Academy!
In this video, we will solve the practical problem step-by-step with proper accounting treatment ✅

📘 Adjustments Covered:

1️⃣ Partners’ Salary ₹6,000 p.a.
➡️ Shown on Credit side of Partners’ Current Account.

2️⃣ Depreciation on Assets
➡️ Land & Building @10% p.a.
➡️ Furniture @5% p.a.
➡️ Machinery @3% p.a.
(Shown on Debit side of P&L A/c)
Deducted from assets in Balance Sheet

3️⃣ Interest on Capital @5% p.a.
➡️ Shown on Debit side of P&L Appropriation A/c.
Add to partners’ current account

4️⃣ Closing Stock ₹60,743
➡️ Shown on Asset side of Balance Sheet.

5️⃣ Advance Wages ₹1,000
➡️ Deduct from Wages
Show ₹1,000 as Current Asset in Balance Sheet.

6️⃣ Interest Due but not Paid ₹800
➡️ Added in P&L A/c
Shown as Outstanding Expense (Liability side).

7️⃣ Net Profit ₹38,113
➡️ Transferred to Partner's current account & distribution between partners.

🎓 These adjustments ensure that the financial statements show the true and fair value of assets, expenses, and profitability.

✅ Watch the full video to understand journal treatment & accounting impact!
✅ Do Like 👍🏻 | ✅ Share 🔁 | ✅ Subscribe 📚
Press the 🔔 bell icon to get notifications for upcoming questions!

#FinalAccounts
#Class12Accounts
#PartnershipFinalAccounts
#HSCClass12
#Accountancy