Explain the procedure for preparation of final accounts of a partnership firm.

What is Fluctuating capital method?

The firm of A and B earned a profit of Rs.2,75,000 during the year ending on 31st March, 2015. They have decided to donate 10% of this profit to an NGO working for senior citizens. Pass necessary journal entry for the distribution of profits. Identify the values shown by the firm in donating a part of profit of NGO.

Give the format of Profit and loss Appropriation Accounts.

Why is it the capital account of a partner does not show a "Debit balance" inspite of regular and consistent losses year after year.

If the partner's capitals are fiied, where will you record interest on drawings and share of profits of partners?

Why is it the capital account of a partner does not show a "Debit balance" inspite of regular and consistent losses year after year.

If the partner's capitals are fiied, where will you record interest on drawings and share of profits of partners?

What is current Account?

prince, Queen King had capital of Rs. 1,60,000, Rs. 1,20,000 and 80,000 respectively on 1.4.2010. Queen withdrawn Rs. 16,000: 30.9.2010. King introduced additional capital is 24,000 31.12.10. Calculate interest on capital @ 6% p.a. for 31.03.2011. 

A and B are partners,having equal ratio of capital of Rs.50,000,& 40,000,on:1.04.2017 on 1st July 2017,A introduced only Rs.2,000 interest 10% p.a.Calculate interest as capital.

Interest on drawings :
Sundar and shanmugam are two partners equally Sundar drew regularly Rs. 4,000 at end of every month. Shanmugam drew is Rs. 8,000 regularly.beginning of every month. Calculate interest as their drawings @10%.

Priya and Kala are partners Priya draws Rs. 8,000 at end of each quarter. Interest on drawings @ 6%. p.a. Kala draws Rs. 2,000 per month, end of the month.

Arun and Arora were partner's ratio 5:3. Their fixed capitals as 1.4.2016 were Arun Rs. 60,000; Arora Rs. 80,000 Interest on capital @ two Interest as drawings 15 % p.a. profit for the I'ear ended 31.3.2017 before all above adjustment was Rs. 12,600. Drawings: Arun Rs. 2,000, Arora  41000 during the year. prepare profit and Loss Appropriation Account.

Write up the capital accounts and current accounts of the partners Kaviya and Dhivya from the following.

Particular	Kaviya	Dirrya
Capital as 1.4.04	50,000	40,000
Current A/c as 1.4.04	5,000 (Cr)	3,000(Dr)
Salary	15,000	4,000 .
Commission	5.000	4,000
Interest as capital	8%	8%
Drawings	10,000	8,000
Interest as Drawings	6%	6%
Share of profit	20,000	20,000