Fundamentals of Partnership | CA Foundation Accounts (A/C) Chapter no 8 | ICAI | Chandan Poddar

In this Video We Will Discuss Fundamentals of Partnership All Concepts, Problems and Examples for CA Foundation and CA Foundation Accounts Chapter no 8 has been Discussed by Chandan Poddar Sir for CA Foundation Grooming Education.

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Timestamps in this video:
00:00 Introduction.
00:26 Meaning of Partnership
06:00 Meaning of Fundamentals
09:05 Profit-Sharing Ratio
18:07 Interest on capital
24:54 Different Cases of Interest on Capital
28:54 Case 2 of Interest on Capital
38:32 Case 3 of Interest on Capital
48:52 Case 4 of Interest on Capital
55:34 Fixed capital and fluctuating capital
01:14:52 Would your answer be different if drawings are out of capital
01:18:01 Example of fixed capital
01:20:39 Interest on capital in case of losses
01:22:03 Int on capital in case of Insufficient Profits
01:24:23 Charge and Appropriation
01:27:57 Interest on drawing Case 1
01:30:04 Interest on drawing Case 2
01:37:16 Examples 2 of Interest on drawing
01:41:01 Examples 3 of Interest on drawing
01:45:34 Examples 4 of Interest on drawing
01:49:34 Examples 5 of Interest on drawing
01:57:36 Examples 6 of Interest on drawing
02:02:03 Examples 7 of Interest on drawing
02:05:27 Case 2 Other Cases of Interest on Drawing
02:15:42 Interest on capital charge on Out of capital or Out of profit?
02:119:05 Meaning of Past adjustments
02:20:55 Case 1 of Past adjustments
02:26:39 Example of Case 1
02:31:51 Case 2 of Past adjustments
02:40:30 Case 3 of Past adjustments
02:46:32 Case 4 of Past adjustments
02:57:06 Case 5 of Past adjustments
03:06:18 Case 6 of Past adjustments

Topics covered in this video:
Profit-sharing ratio
Allocation of firms profits in various forms
Interest on the capital case i
Interest on capital case ii
Interest on Capital case iii
Interest on Capital case iv
Interest on capital on fixed capital and fluctuating capital
Interest on capital in case of losses
Salary and commission to partner
Interest on drawing case i
Interest on drawing case ii
Interest on drawing case iii
Interest on drawing case iv
Interest on drawings exclusive video
Profit and loss appropriation journal entries
Profit and loss appropriation account
Guarantee of profits

The partnership is the relations between two or more persons who have agreed to share the profits of a business carried on by all or any one of them acting for all”

Features of Partnership
1. Two or more persons: There must be at least two persons to form a valid partnership. The maximum number of partners cannot exceed the number of partners prescribed by the Companies Act, 2013 which is 50 in any business whether banking or non-banking.

2. Agreement: Partnership comes into existence by an agreement (either written or oral among the partners. The written agreement among the partners is called Partnership Deed.

3. Existence of business and profit motive: A partnership can be formed for the purpose of carrying on legal business with the intention of earning profits.


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