Accouüy Fo fatthenship

Meaning of Pasitnership

Pcotnesiship
+o Shaste the
is e
profit
stelaHon
of
between
business
personho
caried on
hove
by al
agsted
he

pasttneyS 0 on 0nc 0P themn behalf of

acting on all he
potthets

Natolc oF PaHheYs hi P

legal Point of viad Accouina foit of vie

Not a Sepraie êntt} 9
Since prstheTs have unimited Fatnership 1s a
obiiy Seproto busincss enH

Feotuoes of Patnership
.TO 8 moTC Per son Minimum-2 maximun-So

2. fAgre wstten
oritten agfeement among the þastheYs S
enouon . pavtnevsrip deed
Lau Pui busi ness

FroHt Shorina Share Profit: JosSeS Jof te businesS.it not es sento-

hat aU h e pathcYS muS+ Shac losse
A BC ProP+ ==60,0

30 30o

SMutua aen c 1+ meaus business is casied on by a or any u

b them
actina For al
.Rights of partnevs

1.Right to pati cipote so the

management of business.

2-Riant to be Consulted about the affoirs of buSi nes.

3 Right to inspect booFs of A ccoun+S

4Right to shaie PsoPi+ a loss in agrecd oioío

5. Right to letire Prom business.

6 Righ o disollowed admission of neo orther

Patnership Deed

+is fHrm that

an oriten ageement betOeen the partnErS of o

OUineshe terms and CondiHons of partnership among the porteS

OH
a pather
It 18 an legad and OTItten agreement gned by
f+is n0t compulsbu* to but ut
have a porthership d eed ,

adyisable a + helps n seteme t o dispue

Pattnership deed basicolly contous tuoo matterS

Monagement Nelo-ted Mone Sieiate

Ngme of the business and o pita oF Pasiners

pavtners
No+ue 0f business. Proff+ sharing *oio
Kights and duties oF pov+nCTS Voftuation of iOodo1 Assets
setlemen+ of dis putcs Salay commission
Co mmencementi ofPac*heTShiP Loterest on caphal loan
and droOng
Nex a (Dead cauiu
Joss HC
HO H+ oppropiation
Hrst understand

Chaotge Agai ust fro it apprDoiaion ot

l+ mea us expense joss prof
u c yo aia) l t meaw dis+ibaHon
HS dobi4 ed to OF ProA+
frot loss Alc
p-Iut on Toa n(Pam
Re ut Pay abte canno + exced avalabte
Mayager com MAMio» Proft
wurauce, etC -entners sek
CoMMfon Tut bn CoP.
oivisi ble Pot
ct c
 hen Pouthers hie Decd si1ent o Pootthcrship dced doe y
exist
Pror
in+
shaing
on capita
Rotio Eduay
Ndt ven
alaH I commissipn Not
ven
iven
Interes+ dn
droui ng Not
iven
Lnterest on t0an
DH Pather to m
67. P.a
o
Par+her No 'nto +o be
charae

Some Psoui son.

A mno*
Connot be admi1td
the benefits
of admitted as o
pather.But minor con be
Þootneship 1 at he
pabltheTS..

A neo person
can be admited
with he Coaeut -o bastther fand exisina ptnes
as Can TeAre
ecut pathens esinaccosdduge to' the
deed pothessh
AnAny re FHt ecened by pather from tbusiuey hich i compeio n
a
to the busiu of pothership, sha be:
paid to h e Arm by 8uch
Pas+ne. a any income eaned Pather
shc be
paid uiu Frm resourceM
tistibted in
pastners.
*Prot s loss appropioioh Ac

Tradina Alc

Prot loss HcExpetuse

ProHt 0sS appropídjon Alc Distibayon

Balauce sher
 Prot ,loss appropicttibn Aic(NoMÍnal)
PastHcula s Amt Porticulois AmT
T6 Profts loss Ajc XXX
B Profit. loss Ac XXX
(Net lb ss) (Net 1o ss)
To int on
capita XXX B ut 0n drouoing XxX
T pavther solaoies
xXX
l08S tP to
To povtner commiss1
xxx
To Reserve
XXX

To ProA+ rouw. to

XXX XX_
e Note ()

e letal
appropiction /distibution cannot exceed the avaloble Poo Ht
S Heneval oule Net dO a per Proit loss Aic is not HE
to
Psl app Alc
drecHy debited to P a cepitel Alc
3 Wueh toss disi buted -
here ù a Net 10ss
TnHeres+ on drooing to be choged rom Paythers

Joun o Entes

When Net pront, transter, to, PsL aPp Ale/ ogs+If *o aPP AHe

t Pror 10s8 Alc D XXX

Rrot6 1083 APp. AMc
To
XXX
Ne+ Propt +/f to PaL oPP- M)
u) Ps oppmpiohon Al
TO Prot 3 10ss Ac XXX

Net roft+If to PhL PP A)

When InteHest on opital athbuoing
iLoHerest 0n
eapital Al p XXX
To
patner% copml /comeut ic
cebita al owod to bar+HCNs)
 ei) Proft loss oppropiadton Alc KAX
D
TO intesest+ 0n copíta Ata

(It on
capta+/f to fAL PP e
When sa aie s/ commission all0wed to parthers

ú Pastt nest5 salaoty commi ssion AMC--D. XXX

To PabtherS cap'tal Alc/ crrTent

(Salty commissidn allooed to baithe.1S)

0) PsL opprcpriotion Alc- D

"TO atheHs Salanyeomm. MC
(Sadaxylcomm. t to PAL appropialjon fi

f o onsfei toReserve out ot Prof+

) Ps1 oppropríotion Atc KXX

TO Reseqve AC
XX
(Amdu wt traafe to iGSCse)
-

When interes on rouing chaige

PasttneTS Capita Ac fcuHent i c D XKXx

TO TnteHest XX
on
prawing HC

(nteicot on dr asing
chaotgedrom parHer)
() Interes+ drauing KXX
To PsL
oppTopiotion AIC KXX
Intexest on
rouoingte to fL appy. Aic)

When ropt/loss disribstd

PaI APTopioton Alce p

t XX

To pasHrer13 capial/cuient Mc
Pro+ disrrbd ted in p r t s haying asio

2 Ptnes cop /cUTYent le p KXX

To PLpP Ac
(10. dis1bled in reT sharig niio)
Yent enm oIneYeS on lOon by battncat- cn1cem
C-i+rei Her paid 4c pocT

Interest On loon by pattn EN

+
chasigc ond ut Shoon a an
a

expense
TPasithership decd silent.then Int on pmmerS
67 Pho
100 T

ousina enmries ae
TtcHe ot on loon b pa#neH Ac-D
To loan to
pasth c AlC
Tnt 0n l0on due
.PL AC
To Inteyes 100n
by povner MG
on

(Beina inteTes trord o Proft Aloss AC)

Loon to
patner AG -DT
To cash lbont Ac x

(interes+ poi4)

*Rentbaid to parthe
a chaige agalu+ Frofit

Jouyna enteñes

Rent D XX

TO Rent
payoble Eash| bon
6en Tent paid)

Propi+ toss Atc -D

To Rert MC
 AccountS
athe 3 Copitel

The pæther's copihol ccour may be mobtaú ned

e Pixed
copital AccountS Method
2Fluctuoting Ceprtal nccounS meth

A Pixad copital Accounts method

Axed copital ínve8tcd paSI+heY in the

HTm seMaJn)
meous copHal by
xed.

Copitay AHC
CUsret Ac
Inhu amount oP copitaul genevally A he odjustMert u
iemú some and tuu Accout u i Tnteres+ On drouoi n Sa lar
alwa hove credit bolonce eoMMLsion, drouoing pro
etc.aue recomeled iHuu
Alc And helr ACCOTH hau)
CHedit 094 debit bolan ce

B.FlucaHng copitol Account Method

Cabite Account
Cabital balon ce a w e a) CUthe adju3t Ment aie Tecorded
in i Account only and uiu Account has cvedít 0
debi+ balonce

Pormat

Po Pxe copta ACcount Method

 PARTNER'S CAPITAL ACCOUNT C
Paticula A 8 Panticuia B
To Banc Ac XXX By Balance b/d XXX
(othdrool of copira) opening Copital)
To Bolance Cl XX By Ban AHC
Cclosing opital} Addjtional Copita
intYOduced)
XX

PARTHER'S CURRENT ACCOONT

Pansicula A
8 P.cula.
To Balance bld XXX x*xBy batance bld
(opening debit balane x x* XKX
Cepening Credít bal)
To drouoings XXX Int on copítaKXX
TO Int on drouoinAx* KXX XXX

To froft Loss ACX*x x*x Conmission KX* XXX

oss)
SA Proit toss app XXx
To balance cld
(Closing credit bal.)
CPropl XXX

B balance eld KXX XX

ct0sing de bit bal)
XX XXXX XX
-

*Flycteing capita Aeco unt Method

- forma
 FARTNERS CAPTAL C
Paicul Poethcula
To balonce bld A
XX
B
b/d
X
Xx bolance
(opcning debit baion ce) operng cvcdit bolanc
To banE
Alc bonr lG XX
(wihdroul of copi+l) XX KX
ddiional copra)
To dhsoudin gs
XX XX nte on copitai x
To inte on
dacoina KX 3oto1y A
To Proft x jos s C
(1o ss)
XX Comrniss ion Al
5 PsL obp. Hc XX
Aro+)
To batance cid
xB balance ctd
KX