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Category Archives: Accountancy

After making all the adjustments related to the partners, the balance due to the deceased partner is transferred to his/her executor’s account. This amount is… Read More
What is Joint Life Policy? Joint Life Policy like any other life policy gives coverage against the death of the policyholder, however, under Joint Life… Read More
The value of Assets and Liabilities undergoes a change with the passage of time due to many reasons, like regular wear and tear, appreciation in… Read More
Similar to the case of retirement, the Executor of the deceased partner is entitled to receive the interest on capital up to the date of… Read More
Capital is the amount contributed by the partners in the firm. Partner’s capital shows equity in a partnership owned by specific partners. It records the… Read More
Capital is the amount contributed by the partners in the firm. Partner’s capital shows equity in a partnership that is owned by specific partners. It… Read More
A Retiring Partner is entitled to receive an amount of his share in the partnership firm after making all the adjustments related to goodwill, profit/losses,… Read More
The most common approach for maintaining a company’s financial transaction records has historically been a manual accounting system. Traditionally, the bookkeeper would physically write a… Read More
When the firm is reconstituted all the accumulated profit, reserves and losses are transferred to Partner’s Capital Accounts (if capital is fluctuating) or Current Accounts… Read More
Accountancy is a practice through which business transactions are recorded, classified, and reported for the proper and successful running of an organization. GeeksforGeeks Class 12… Read More
What is Redemption of Debentures? Repayment of debentures to the debenture holders or discharge of the liability on account of debentures is known as the… Read More
The movement of cash & cash equivalents or inflow and outflow of cash is known as Cash Flow. Cash inflows are the transactions that result… Read More
What are Financial Statements? The accounting process ends with the preparation of the financial statement. The information about the financial position of any company is… Read More
The movement of cash & cash equivalents or inflow and outflow of cash is known as Cash Flow. Cash inflows are the transactions that result… Read More
Whenever a partner retires, the capital of the remaining partners is changed. As a result of this, some partners may have to bring in desired… Read More

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