Liabilities of Partners Class 12 Accountancy

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Are you looking for the liabilities of partners as given in Accounting for partnership – Fundamentals chapter class 12 accountancy CBSE Board.

Partners Liabilities class 12 Accountancy

liabilities of partners are subject to agreement among partners. following are the liabilities as given in the class 12 accountancy syllabus of CBSE Board.

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1. If a partner earned a profit from a business run by him in competition with the firm. Such profit shall be paid to the firm.

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2. If a partner earns a profit from any transaction of the firm or by using any property of the firm. Such profit belongs to the firm and shall be paid to the firm.

S.NTopics
1.Definition of Partnership
2.Features of Partnership
3.What are the Rights of Partners
4.What is Partnership Deed, Meaning, content
5.What are the Rules in the absence of a Partnership Deed
6.What are the Rules in the absence of Partnership Deed
7.What are the Liabilities of Partners
8.Profit and Loss Appropriation Account format, features
9.Journal Entries of Profit and Loss Appropriation A/c
10.Difference between Profit and Loss A/c and Profit and Loss Appropriation A/c
S.NTopics
11.Difference between charge against profit and appropriation of Profit
12.Treatment of Interest on loan by the firm to the partner
13.Treatment of Interest on loan by the Partner to the firm
14.Treatment of Rent paid to partner in partnership firm
15. Accounting Treatment of Managers commission in partnership
16.Items not shown in Profit and Loss Appropriation A/c
17.Methods of Maintaining Partners Capital A/c
18.Accounting Treatment When Appropriation is more than the Available Profit
19.Difference Between Fixed Capital A/c and Fluctuating Capital A/c
20.Difference Between Capital and Current A/c
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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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