Accounting for Partnership : Basic Concepts | Past Adjustments | Problem 41 Solution | NCERT

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Azad and Benny are equal partners.
Their fixed capitals are ₹ 40,000 and , respectively.

After the accounts for the year have been prepared
it is discovered that interest at 5% p.a.
as provided in the partnership agreement,
has not been credited to the capital accounts
before distribution of profits.

It is decided to make an adjustment entry
at the beginning of the next year.
Record the necessary journal entry.

Accounting for Partnership - Basic Concepts
Past Adjustments
Partners' Capital Accounts
Partners' Current Accounts
Fixed Capital Method
Fluctuating Capital Method
Partners
Business Partners
Firm
Class 12 Accounts
Partnership Fundamentals

Intro: 00:00
Problem Statement : 00:25
Analysis : 01:07
Outro: 09:49

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