Salary and commission | Profit and loss appropriation account | Class 12 accounts commerce champions

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Class 12 Accounts
Chapter 1
Fundamental of partnership
Salary and commission in profit and loss appropriation account
Accounts adda video 5

Introduction
Meaning , concept and partnership
Chapter 1 introduction - accounting for partnership firm Class 12
Partnership: features Partnership Deed
Provisions of the Indian Partnership Act 1932 in the absence of partnership deed
Fixed v/s fluctuating capital accounts
Preparation of Profit and Loss Appropriation account - division of profit among partners
guarantee of profit to a partner
Past adjustments ( relating to interest on capital, interest on drawing, salary and profit sharing ratio )

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