Death of a Partner | Part 3 | Calculation of Profit| Time and Turnover Basis| Class 12 Accounts скачать в хорошем качестве

Death of a Partner | Part 3 | Calculation of Profit| Time and Turnover Basis| Class 12 Accounts

💡 Have you ever wondered what happens to a partner’s share of profit when he passes away in the middle of the year? Death of a Partner | Part 3 | Calculation of Profit| Time and Turnover Basis| Class 12 Accounts Welcome to another comprehensive session of Class 12 Accountancy, designed specially for CBSE Commerce students. In this lecture, we have covered one of the most important topics — Death of partner, explained in the simplest and most logical way so that every student can easily grasp each concept. In this video, we discuss what happens when a Death of partner during the year takes place and how to calculate the share of profit or loss up to the date of death. This concept is crucial in the Death of partner class 12 chapter of T.S Grewal Volume 1. We begin by understanding the two main cases: 🔹 Case 1: When the profit-sharing ratio does not change after the partner’s death. 🔹 Case 2: When the profit-sharing ratio changes among the remaining partners. You will learn the complete process of estimation of profit and loss during the year and how firms adjust the deceased partner’s share using the profit and loss suspense account in death of partner. The video explains every adjustment step-by-step with illustrations from T.S Grewal Volume 1 so that you can confidently attempt related questions in your board exams. We also explore different methods of estimation of profit during the year, such as: 1️⃣ On the time basis, also known as profit and loss time basis profit and loss or profit and loss time basis profit and loss in hindi, where profit is estimated proportionately to the period of the year. 2️⃣ On the turnover basis, known as profit and loss turnover basis profit or profit and loss turnover basis profit and loss, and even profit and loss turnover basis profit and loss in hindi, where profit is estimated according to the sales or turnover achieved up to the date of death. Through examples, you’ll see how to create the profit and loss suspense account turnover basis as well as the profit and loss suspense account time basis depending on the given question. Each illustration demonstrates how the profit and loss suspense account helps in transferring the deceased partner’s share to his capital account until final settlement. Next, we discuss the method of estimation of profit and loss during the year based on: 📘 (a) Last year’s profit, 📘 (b) Average profit of past few years, and 📘 (c) Actual preparation of financial statements up to the date of death. The topic of Death during the year is explained through logical reasoning and clear board illustrations, making it very easy to understand even if you’re studying it for the first time. By the end of this lecture, you will be able to: ✅ Identify when to apply profit and loss suspense account in death of partner. ✅ Differentiate between time basis and turnover basis methods. ✅ Prepare accurate profit and loss suspense accounts and adjust the deceased partner’s capital accordingly. ✅ Handle every type of estimation of profit and loss during the year question asked in CBSE exams. I have also discussed key illustrations from T.S Grewal Volume 1 that often appear in board exams, making this lecture extremely helpful for thorough concept clarity and exam preparation. calculation of profit in death of a partner profit calculations in death of partner profit calculation in case of death of a partner profits calculation at the time death of partner calculate profit on death of partner death of partner calculation of profit upto date of death calculations of profit at the time of death of a partner calculation of profit share of deceased partner death of partner calculate profit on sale basis calculation of profit upto date of death Follow Us on: Instagram:   / commerce360classes   Facebook: https://www.facebook.com/profile.php?... #deathofpartner #class12accounts #class12commerce