Fundamentals of Partnership | CA Foundation Accounts (A/C) Chapter no 8 | ICAI | Chandan Poddar

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In this Video We Will Discuss Fundamentals of Partnership All Concepts, Problems and Examples for CA Foundation and CA Foundation Accounts Chapter no 8 has been Discussed by Chandan Poddar Sir for CA Foundation Grooming Education. ⚫ CA Foundation 9.0:- ⚫ CA Foundation Individual Courses:- ⚫ Self-Study Set: CA Foundation (For YouTube and Self-Study Students):- ⚫ Perfect Revision: CA Foundation Revision book:- ⚫ CA Foundation Perfect Practice Books:- ⚫ CA Foundation Past Years Question Paper With Suggested Answers:- ⚫ Download Our Escholars AI App:- Watch Next:- ⬤ Inventory Valuation Chapter In Single Video:- ⬤ Final Accounts Chapter In Single Video:- Timestamps in this video: 00:00 Introduction. 00:26 Meaning of Partnership 06:00 Meaning of Fundamentals 09:05 Profit-Sharing Ratio 18:07 Interest on capital 24:54 Different Cases of Interest on Capital 28:54 Case 2 of Interest on Capital 38:32 Case 3 of Interest on Capital 48:52 Case 4 of Interest on Capital 55:34 Fixed capital and fluctuating capital 01:14:52 Would your answer be different if drawings are out of capital 01:18:01 Example of fixed capital 01:20:39 Interest on capital in case of losses 01:22:03 Int on capital in case of Insufficient Profits 01:24:23 Charge and Appropriation 01:27:57 Interest on drawing Case 1 01:30:04 Interest on drawing Case 2 01:37:16 Examples 2 of Interest on drawing 01:41:01 Examples 3 of Interest on drawing 01:45:34 Examples 4 of Interest on drawing 01:49:34 Examples 5 of Interest on drawing 01:57:36 Examples 6 of Interest on drawing 02:02:03 Examples 7 of Interest on drawing 02:05:27 Case 2 Other Cases of Interest on Drawing 02:15:42 Interest on capital charge on Out of capital or Out of profit? 02:119:05 Meaning of Past adjustments 02:20:55 Case 1 of Past adjustments 02:26:39 Example of Case 1 02:31:51 Case 2 of Past adjustments 02:40:30 Case 3 of Past adjustments 02:46:32 Case 4 of Past adjustments 02:57:06 Case 5 of Past adjustments 03:06:18 Case 6 of Past adjustments Topics covered in this video: Profit-sharing ratio Allocation of firms profits in various forms Interest on the capital case i Interest on capital case ii Interest on Capital case iii Interest on Capital case iv Interest on capital on fixed capital and fluctuating capital Interest on capital in case of losses Salary and commission to partner Interest on drawing case i Interest on drawing case ii Interest on drawing case iii Interest on drawing case iv Interest on drawings exclusive video Profit and loss appropriation journal entries Profit and loss appropriation account Guarantee of profits The partnership is the relations between two or more persons who have agreed to share the profits of a business carried on by all or any one of them acting for all” Features of Partnership 1. Two or more persons: There must be at least two persons to form a valid partnership. The maximum number of partners cannot exceed the number of partners prescribed by the Companies Act, 2013 which is 50 in any business whether banking or non-banking. 2. Agreement: Partnership comes into existence by an agreement (either written or oral among the partners. The written agreement among the partners is called Partnership Deed. 3. Existence of business and profit motive: A partnership can be formed for the purpose of carrying on legal business with the intention of earning profits. CA foundation: Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide complete tutorials for CA foundation. To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐 𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: 𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬:::: 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞: 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: 𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞:: 𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞: 𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: #CAFoundation #Fundamentalofpartnership #Accounts #Chapter5 #Partnership