{"id":4118,"date":"2023-12-24T09:06:20","date_gmt":"2023-12-24T03:36:20","guid":{"rendered":"https:\/\/tsboardsolutions.in\/?p=4118"},"modified":"2023-12-26T17:13:59","modified_gmt":"2023-12-26T11:43:59","slug":"ts-inter-2nd-year-accountancy-notes-chapter-4","status":"publish","type":"post","link":"https:\/\/tsboardsolutions.in\/ts-inter-2nd-year-accountancy-notes-chapter-4\/","title":{"rendered":"TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts"},"content":{"rendered":"<p>Here students can locate\u00a0<a href=\"https:\/\/tsboardsolutions.in\/ts-inter-2nd-year-accountancy-notes\/\">TS Inter 2nd Year Accountancy Notes<\/a> Chapter 4 Partnership Accounts to prepare for their exam.<\/p>\n<h2>TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts<\/h2>\n<p>\u2192 Partnership is an association of two or more persons to carry on, as co-owners, a business and to share its profits and losses.<\/p>\n<p>\u2192 According to the partnership Act 1932 section 4, partnership means &#8220;The relationship between persons who have agreed to share profits of the business carried on by all or any one of them acting for all&#8221;.<\/p>\n<p>\u2192 Partnership Deed is a document that defines the rights and liabilities of partners of the firm besides containing other matters pertaining to the conduct and management of the firm.<\/p>\n<p>\u2192 There are two methods of preparing partners&#8217; capital accounts:<\/p>\n<ul>\n<li>Fixed capital method &amp;<\/li>\n<li>Fluctuating capital method.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/tsboardsolutions.in\/wp-content\/uploads\/2022\/12\/TS-Board-Solutions.png\" alt=\"TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts\" width=\"161\" height=\"15\" \/><\/p>\n<p>\u2192 Fixed capital account method means capital account for each partner remains unchanged means fixed.<\/p>\n<p>\u2192 Fluctuating capital method: This means all the transactions related to partners are recorded in the capital account. So, the capital account is fluctuates year to year.<\/p>\n<p>\u2192 P &amp; L Appropriation a\/c is an account is prepared to show all the remaining items relating to the partners which are not recorded in the profit and loss account.<\/p>\n<p>\u2192 Final accounts\/Financial statements of the partnership firm:<\/p>\n<ol>\n<li>Trading Account<\/li>\n<li>Profit and Loss account<\/li>\n<li>Profit and Loss appropriation account and<\/li>\n<li>Balance Sheet.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Here students can locate\u00a0TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts to prepare for their exam. TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts \u2192 Partnership is an association of two or more persons to carry on, as co-owners, a business and to share its profits and losses. \u2192 According to &#8230; <a title=\"TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts\" class=\"read-more\" href=\"https:\/\/tsboardsolutions.in\/ts-inter-2nd-year-accountancy-notes-chapter-4\/\" aria-label=\"More on TS Inter 2nd Year Accountancy Notes Chapter 4 Partnership Accounts\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/posts\/4118"}],"collection":[{"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/comments?post=4118"}],"version-history":[{"count":1,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/posts\/4118\/revisions"}],"predecessor-version":[{"id":4119,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/posts\/4118\/revisions\/4119"}],"wp:attachment":[{"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/media?parent=4118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/categories?post=4118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tsboardsolutions.in\/wp-json\/wp\/v2\/tags?post=4118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}