Scribd Logo
Upload

Welcome to Scribd!

  • Clue For partne-WPS Office

    Uploaded by

    Moshood
    6 views1 page
    The document provides instructions for calculating partnership profit or loss appropriation using the T-format. It involves: 1) Bringing the net profit to the CR side and posting any net loss to DR. 2) First dealing with the CR side by posting interests on drawings of partners if provided. 3) Proceeding to the DR side by posting salaries, interest on capital, interest on loan, reserve of partners if provided. 4) Adding up the DR and CR sides differently and making the highest side the balance, then subtracting the lowest side from the highest side to determine the share of profit or loss.

    Original Description:

    Useful for the preparation of appropriation account for partnership business

    Original Title

    Clue for partne-WPS Office

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides instructions for calculating partnership profit or loss appropriation using the T-format. It involves: 1) Bringing the net profit to the CR side and posting any net loss to DR. 2) First dealing with the CR side by posting interests on drawings of partners if provided. 3) Proceeding to the DR side by posting salaries, interest on capital, interest on loan, reserve of partners if provided. 4) Adding up the DR and CR sides differently and making the highest side the balance, then subtracting the lowest side from the highest side to determine the share of profit or loss.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Clue For partne-WPS Office

    Uploaded by

    Moshood
    The document provides instructions for calculating partnership profit or loss appropriation using the T-format. It involves: 1) Bringing the net profit to the CR side and posting any net loss to DR. 2) First dealing with the CR side by posting interests on drawings of partners if provided. 3) Proceeding to the DR side by posting salaries, interest on capital, interest on loan, reserve of partners if provided. 4) Adding up the DR and CR sides differently and making the highest side the balance, then subtracting the lowest side from the highest side to determine the share of profit or loss.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Cl

    uef
    orpar
    tner
    shi
    pappr
    opr
    iat
    ionaccountusi
    ngTf
    ormat

    1)Br
    ingf
    orwar
    dthenetpr
    ofi
    ttot
    heCRsi
    de,t
    heni
    fitnetl
    oss
    y
    oupostt
    oDR.

    2)Fi
    rstdealwi
    tht
    heCRsi
    debypost
    ing(
    int
    erestondr
    awi
    ngs
    ofpar
    tner
    s)i
    fpr
    ovi
    dedi
    nthequest
    ion.

    3)pr
    oceedt
    oDRsi
    debypost
    ing(
    sal
    ari
    es,i
    nter
    estoncapi
    tal
    ,
    i
    nter
    estonl
    oan,r
    eser
    veofpar
    tner
    s)i
    fpr
    ovi
    dedi
    nthequest
    ion.

    4)Addupt
    heDRandCRsi
    desdi
    ff
    erent
    lyandmaket
    hehi
    ghest
    si
    dest
    hebal
    ance,
    thenl
    esst
    hel
    owestsi
    def
    rom t
    hehi
    ghest
    si
    de,t
    henmakei
    ttheshar
    eofpr
    ofi
    torl
    oss;t
    hepr
    ofi
    torl
    oss
    canbedet
    ermi
    nedi
    ntwocat
    egor
    ies.
    ..

    a)Af
    tert
    headdi
    ti
    oni
    ftheDRi
    sthehi
    ghesti
    twi
    l
    lbeshar
    eof
    pr
    ofi
    t.

    b)Af
    tert
    headdi
    ti
    oni
    ftheCRi
    sthehi
    ghesti
    twi
    l
    lbeshar
    eof
    l
    oss.

    5)par
    tner
    sShar
    eofpr
    ofi
    torl
    osswi
    l
    lbebyr
    ati
    o(i
    fpr
    ovi
    ded)
    ,if
    noti
    twi
    l
    lbeequal
    l
    yshar
    ed.

    .
    ..
    MADEBYACCOUNTI
    NGMADEEASY.
    ..

    You might also like