Accounting for Share Capital Share and share capital: nature and types.

(excluding piecemeal distribution, sale to a company and insolvency of partner(s)). Settlement of accounts -preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c

Dissolution of a partnership firm: types of dissolution of a firm.

Preparation of deceased partner’s capital account, executor’s account and preparation of balance sheet. Preparation of loan account of the retiring partner. Of liabilities, adjustment of accumulated profits and reserves, adjustment of capital accounts and preparation of balance sheet.

Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment.Treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of balance sheet. Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities,.Preparation of revaluation account and balance sheet. Change in the Profit Sharing Ratio among the existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and reassessment of liabilities and treatment of reserves and accumulated.

Accounting for Partnership firms – Reconstitution and Dissolution.

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