Accounting for Not-for-Profit Organisation
Master Accounting for Not-for-Profit Organisation for Class 12 Accountancy with structured notes and practice.
5 articles in this topic
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Past Adjustments in Partnership Accounts: How to Rectify Errors After Final Accounts
Past adjustments correct omissions found after a partnership's final accounts are closed, via a Profit and Loss Adjustment Account or one direct capital entry.
Guarantee of Minimum Profit to a Partner: Meaning, Treatment & Example
A profit guarantee applies only if the partner's ratio share falls short, and the deficiency is borne by the guaranteeing partners in their agreed ratio.
Interest on Capital in Partnership Accounts: Rules, Formula & Solved Example
Learn when interest on capital is allowed in a partnership, how to calculate it with additions and withdrawals, and what happens when profit is insufficient.
Profit and Loss Appropriation Account: Meaning, Format & Solved Example
Learn what a Profit and Loss Appropriation Account is, why partnership firms prepare it, its format, journal entries, and a fully solved example.
Fixed vs Fluctuating Capital Accounts: Difference, Format & Examples
Understand the difference between fixed and fluctuating capital accounts in partnership accounting, with formats, journal treatment, and a solved example.