|Page No.
Date
Chaptr name oadamenkal o
DarBnerthip.
# Rollo on the
fole proprietorzhip
Ohe maninvest capita! Sone mana canital
take Rik
Ohe mah take ARVL, Contzoling
’ Contal the uwhole aaiYA Cnd iak dakila
=) the businhcaL Capaity are
imitedl
qome perkoh Combine and
and Enter in to
agree tacnt to form a partncrzhip
Partnerzhip delinc aeaion ol Hhe
indian pahaczhip Ac
1932.
is the Yela tion betweeh
parinizhip
lwha haue aqreed to hare the
persanA
buginces Carzied on 6y ollo
o them acting or all
|Page No.
Date
Gnahhar Army
eataxes o partnerkhip
wo or more pxsans hese mut boathast
peHSons or maximum 5o pcxsons.
Avey pexsons eXept the follausiag campeteat
Minor
2. |Pexsan ofunsound aipd
Parson disqualified by anyy laus.
Aqeenet Poutaexship is he esutt af am
a¡ueement Auch on QgHeement can be either
Sral or in casiting
a Eaistente of Buinae aad psoft matiye ÷ fater
3.
abih can be totned for the ppase af careying
lon some businecs oih the intenlon
oxofte and Auch business must be aearaing.
leoal
Ajoiat oLonership o some prapexli bytell
Caooot be calld a paxtncrship.
4. Shaxiag c! huoii The aqueenent between
the partoes must be aimedat Abaking the
prols a the business g some pexian?yain
'honds unAomy choiitab
cail not be calld paxship.
Page No.
Date
Relationshib od huincipal ond agent i Eachthepastoex
paxtncx
fizn.
0gent a Dell as a prcipal of
agen becauce he can bind the other paxtnea
A agznt,
by bis actt and a_paiodpal because he bimiel
Lon be bolund by he act af the ather partnx
Businzse cozried an by al or any a then ging
or ol 9 neona bot eoch }otnex can
participat in tht Condu a busioss md eoch
partoerik bound by the ok o aber paxtnext
PARTNERCHP DEED
uodeataadiga and dispi
hume
ch o swittho caument sbich contoins th
pouauuchip did shauld cardaig thealoing
h
oaina
)Nomes pod oddresses athe pntnexa.
Doposes to da
Page No.
Date
)otetest on -capital
4Dxauainft on Duauaings
atercsd on
Paglit
3) SalaLL
shaziag ako
9)Goadsill
LAuding
*Rule Applicahlein the Absence of
af Pastoeschia
Deed
he ahsence ofo poutotehip deed or vebol
Pusnschi
Poft sharing uoia ’
Eapibal Eaually
No
No
No
61. pa At any Cake
AAdoician al o Nan patoc any
Consent
all parther.
Page No.
Date
Recoxoling of Pastoscbip Troncochions
TYading Ale
prot 4 lokA Appzopáation Alc
Balance heet
partnera capital
PeOEIT AND os APPROPRLATION couNT
To coramission to Poztnec
To Interest on Patnrs capitals: xred tronm PkLA)
A
Ie Totorest on
Resere Alc
T Paoit tronsteted toi A
Ak caoital Al
Lor Ak Cuneot Al
capital Al
Cor B's cvrert Al)
Page No.
Date
JoURNAL ENIRIES
Ansxopziation Aacaut
Pofit and loss Al dy
To Brafit and lass Apprapziaton Al
(Net Rott oncferre
2 Eotry for Tatast on coaitad
On allouaing TotexAst on capital
Totezest oH canital Ale
T Parsdne' capital Al
ooast
I)On closure of Iateret on capital Ale
Tolcast on_ capitol is dlased by cansfeiag
to the debit side of Profit
Al
ill be :
Rrofit klac Appropriaiorn Al dr.
T6 Iotexest on capital Alc
3 Ent toc Tatet an Deaaingt
)Oa chasping Tatexst on Drauaings
Podhex's apital Al
To satoest Dxauning AlL
Page No.
|Date
Oo clacure af otexest Duouaing
Lac thic s ncanmetox the im The oill bu
otczest on Drasings Ale dr.
To Prafit lass Aoropxiakon Al
4 Entay tor Aalars or commicsiao papahl to a patoer
4.
-alaaig Aalay
atoers salamy. commission Al
T Partnet capital Al
Salazy ar Comnission pauable do a partncr is cased by
ransexing it t6 the cebit Aideof RofA ond asc
Appxopxi ailon Accout, as these are expeases tor he
fin. The cntry ailh be
Paofit lac Appapcoioo Alc
T Partoe salamy lcozamisiao Al
Page No.
Date
5.
4Enty for tronsy of ced balanei of Kalt
Proft LLas Apprspriakan Al
T ortaei capital ar Cuteat Als
* Distinciog bataun Rrofit klos Acauat and Prafite
Zoss Ahbtobuioion Acenunt
Ti prepared ali isadi Ek prepaxtd after Bait and
laccount ond heate sast "loss Acout and hena sat toi
oith the gxass prafit te net prahit disclased by Broht
disclaced by Tading Alc Lass Acouat.
*ispxepazed uts ascesaiaE is pepaxed to shaw apaapzi
net prafit or net lbcs ation ie disbi buhon o net poait
otof the year among the patoexs.
Tis acaurt hac neihec This arcauat aay have opening
opeoiap balaace naxc
closio balande
La chiny balante
Page No.
Date
penses debited to His txpenses debited do this
acaust oxre chage ogauinst ocount are apprapiakah
pofts. af pxafits
Aay amoun payabh copitalte lexcept
alant
interest Go
coamission, iatet on
not a chag
pafi ozeaod debihdt
Apampriakonthesea ikins
agpinst prof henc
oft loss aporapiatian Al instead oal Pralt klact Ale
Snterekt on capikal
Allawe d only
Aged
Capitalx
X Rate Tmc month
loD 12
Paga No.
Date
Capita! Acoanta af pardnexs
partnerahip main eparate Capital Acooont
Gancga or Lach partbe r
Capital Canhibote d by Eacb partncy
wil be credfted e bis -capitel Aeount
Two me thade ox capitalL
fixed canital
Acconn (3 octuaing
Caoital Acocot
originat capital
Yemaing Con tant origínal Capital
Changing frám
tone
fime
Onls oditianal capihol)
and drawing agninet AD thing xelate
Capital Cooee to
partherA (omca
partnce Canital Alc One acount
Called patkncks
Capital Acounl
Page No.
Date
againstpraf?!
capikale
iatrest Chaxacd on drawing
alasa chagud
to harner
ahau oit los
AL these things Comes
Ca AL thee thinga
Dartners current
ihinge
also comes e
Acount or drawing Account pardnct capital
method fllou Acca uni L
uccha ting capitel
me thod alow
Prolocma cahital Accaunt
[when tae capital ar fixtd ) (
paxiculat BC Partiaalar B
To Cash LBank By 6alance 6ld
(Orauwing againet Jropcning
Capita o balance)
pcrmancnt
with drauwal o 6y CuhlBank
Additional
To Balqncecfd
Capitel )
cloring balonce
Page No.
Data
Jlorzent Acaauntz (C)
Portiaular A B Parieular
) Balone bld |by balance 6lcd
On carc debt
Opehing 6alane) apeing balane)
=To drawihg
Cdrawing againt Ccagital
paxina galad
drauing commiekion.
To P
in cake o lo)
)To bal cid ralit )
Huckuntisg canital Actaunta
PROEORMA OF
CABITAL AcauNTS iahen dhe capital, utati
Pieulas ABC. Pottaulass LAc
coch bonk A B Balante bld
Dxasings agaunsdt CoparingBalance)
Copital)
By cochl bonk Alel
ladddiandl capital)
Dauaing
Paga No.
Date
Cahaxe of loss, in
Cace of losc)
AZCshare afpra ft!
clacing balante) in cae otf prafit).
fixed capital Account schaing canital
.Too Accounte apen. (Oneccount apen
Capital Actauat a Canital Acrant
curent Acounk
Never ehous heqa tiue Can show hegatue
balance balane
Capital Account umeat Atount
Prepare in both casc
luc kuaing wel Cataal
fiyed
onikal A ccount in Afhow
ked Ahous only credit
Lied
balance
CapitalAccount in
flvctuating yhow (r ora dy 6alancc
Paga No.
Date
Monagexs comaikcion on Net Palit
Sometimes, the manager is to be alawed a certan
percenlagea net pofits Qs his commissian
is caleulated asbelau
Choxaiag Auch chocaino Auch
CommisSion Commicsioh
Rar oxamplk I pralik
Comrm and lay coA
|odhutaaeni, mod areoxding a patnsahided
balare adiudoautz in hepet al parines
intp capidal ete.
)onager's commision is a chare against the pxofts
appxopriation of pxotit Hence t is
debited o Proftt &loss Accout and no Profit and
Los Apprapaiaien Al.
Page N.
Date
Nati ? Cammissian of mana0 ic toiten in Patftk
Lacs Al hescoc cammiccion af oaxtner is oithenl
in Rraft lacc Aopca priahian Al
Sntereat loan
partnck doan aken by a paxBncr
to thefirm
decd bot prouide Por
Charge prauide
whe ter thexe
bere are
chauging
Charging Sntexegt 'on
OY bot
ecordl Creditide
Dekit to psl Alc
Not cYedit to Dartnrk
Canital Accouht Debited to he
CYedited to hi loan Capital Account
Accocn
nteeet Oh partnh loan Al dr)i Parkher' Cooital Al dr
To partncrs loan Alc To între
partners loan ale
Paga Na.
Date
PaL Ale dr
To iatereet on partacrs Joan A
i ntereet on partncca doan
paa
Rent paid a payalk
OY
partnc
(Chaxge Againgt Drali Credite d o
deBR4 Rent paala al
Coartnete
capitel'Alc
Rent Al dy
To carh BanR Alc
((Rent poi)
() Rent Al dr
To Rent
P3L AJ d
dY
To Rent Alc
Page No.
Date
JAlhen ahbunpiatian
Anch
capital, Aalau a< paxtnou ed QuL mouthan
LQuailabl puait ll be diabibitid ia
Methodaal calulaling Jatnest an sunings
L4nteust on duoaings ma
Simale Msthad :i Dndon thi muthodinteuat on akausing
is caloulaid sepouaiy an each amaua
o duasina
tomua.
Alaing
lsteuest on Duaaing Amouat aj DuaaingaX Eate
lo
aiat
Montta
12
>Poduct Method i Undu this mshad, tixst of all thL
puoduc a computid by muliplying. the each
At a duauings isuam duuatisn.
roxt an Duasing
|Paga No.
Date
T date a drauing iA hot giuea thcn
2onth
Snteres
drawing
CD Euery month (D ¿ocry quarter
beglkning Ap6f monih
Esa A - s s mon th
Middle=66 month yo Mid - 6 mo
ormala calnlake
Donth remainaler ictt dramin
+ Mobth veman
dYawin
2
Nmon
En
oidAle3 manth middle z4m
draustng Ngonzt caprtat not tonridcr
ltatin g in kerez t
for cal lat on
drawing
Page No.
Date
Rate od întccak qiucn with out the word
per ahnum will be charqcd wth ou
cansi deving ime ManthA ntYCA
Chayad
Rolla On the top
nabboay Arroy
Prouiaioh Relake to Sntecgd
capikal
Case Prouiaion
I lartnczhip aqrceman No intereat iA allowed
is ailent abost the
cnCapital
Rartnership aoreeme Soc allauwed anly in pzalit
DronideL or Por hol
No interest
interest ac a chad
aponriatinn
prait ess
than' Joc wil
reAict to
the Amaund
pxolit
distibued
E Sn tret as a |nterer t allowcd WheihY
Charge there iA Profit or lokk .
Paga No.
Data
1Past Adiuzmcnt
Aer cloking o Acoun dicauced
omiskiab
Sod au haue bcen
haueGcen omited
PAL distibute d wrong proporion
falay
has becn omitked
LAdiurkmen table.
Dorionlar &Total
la Joc ishich ae hobld 6e
Cre dited (ri¡ht ratc ointe Coo xx XX XXX
b salau which afhoold hauwe
been Crcdited XX
CommikAion bich
ahauld hawc heen redit Cor XX*
(e)ese od which haold
6e desid XXX
XXX
Amount Credited no
de6ited
Page No.
Date
profit giucn în the qucktion wll be ignored
Con¾deratioh Uonlu
wheh it has 6eco disti buBed
pralit qfhang atio wrong
Calentation o paing opiial
closinq Capital
Add:
drabing
(-) (-)
auarantee o prat to aapartncr
A) Ohe or nore Dortnere
B)
in On aqrecd ratio
Deiciehcy o guarantec I proH CAA
Amount a prot
brt 6orne than quaranteed
6y the partnet who fiuch /proi hcn quarante
guaxande Agacd Yatio Amount iA Credited
yto the Capital
Account
Page No.
Data
Aorced Yatio not
the deicieng i bosne Balance_pralik iz
dishábsch Amona
partncKA
their
4thafag Ya
Kh tam Kaige
ho tc