The partnership deed, Financial Accounting

Assignment Help:

The Partnership Deed

It is the agreement that regulates the partner’s actions in undertaking the partnership business. This may or may not have been drawn up.  It usually contains, amongst others:

  • Name of the firm, names of the partners, their addresses and their occupations;
  • The status/type of each partner, e.g. active/dormant, limited/unlimited etc
  • The capital to be contributed by each partner
  • Their profit sharing ratio
  • Salaries to partners, if any
  • Interest, if any on capital/drawings.

 


Related Discussions:- The partnership deed

Various types of accounting changes can affect the financial, Various types...

Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material

Bank reconciliation statement, in bank reconciliation statement what are th...

in bank reconciliation statement what are the statement to be reconcile

Revocation, Revocation, alteration and revival of a will 1. A will may ...

Revocation, alteration and revival of a will 1. A will may be revoked or altered by the maker of it at any time when he is competent to dispose of his free property by will.  (

Prepare a revised balance sheet, #questionBroadway Scripts is a service-typ...

#questionBroadway Scripts is a service-type enterprise in the entertainment field, and its manager, Joe Numbers, has only a limited knowledge of accounting. Joe prepared the follo

Prepare a statement of financial position, SE CTION A QUESTION 1: ...

SE CTION A QUESTION 1: Below is a trial balance of a manufacturer of boots for the local market. Trial balance as at 31st December 2012 Dr Rs

Determine the net present value , A project requires a net investment of $4...

A project requires a net investment of $450,000. It has a profitability index of 1.25 based on the firm's 12 percent cost of capital. Determine the net present value of the project

Determine the total cost of hiring and layoff, A company has the following ...

A company has the following forecast demand for the next five months: 1,600, 2,400, 3,200, 2,800, and 2,400. The following information is also available.                  curren

It''s been two months since you took a position, It’s been two months since...

It’s been two months since you took a position as an assistant financial analyst at Caledonia Products. Although your boss has been pleased with your work, he is still a bit hesita

What are the tax effects of the debt adjustments, Harry purchased equipment...

Harry purchased equipment for his business and gave the seller cash and a note due in two years. Larry also purchased business equipment, but financed the transaction with a bank l

Ias1 contents of financial statements, IAS 1 contents of financial statemen...

IAS 1 contents of financial statements IAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial sta

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd