Section 37 of Partnership Act | Retirement and Death of a partner | Class 12 Partnership Accounts скачать в хорошем качестве

Section 37 of Partnership Act | Retirement and Death of a partner | Class 12 Partnership Accounts

Understand the application of Section 37 of Partnership Act on Retirement and Death of a partner for Class 12 Accounts. As per the provisions of section 37 of the act, if full or part amount of outgoing partner still remains in the firm and has not yet been paid back then the outgoing partner or his legal representatives are entitled to the higher of the following two amounts: 1. Interest @ 6% p.a on the amount outstanding, or 2. Share in the profits earned by the firm proportionate to his amount outstanding to the total capital of the firm, i.e.: Share in profits = Profits made after retirement or death * Amount o/s of retiring partner Total capital of all partners + Amount o/s of retiring partner It must be noted that if there is an agreement in the deed that interest or share of profits or nothing will be paid in such situation, then it shall be applicable. . . . . . 👍 Keep learning and keep growing with us!! ✅ If you like this video , please Like , Comment , Share & Subscribe our Channel Also Join our telegram channels: ✅ Class 11 Accounts by CA Manish Mahajan: https://t.me/class11accountsbycamanish ✅ Class 11 Economics by CA Manish Mahajan: https://t.me/class11economicsbycamanish ✅ Class 12 Accounts by CA Manish Mahajan: https://t.me/class12accountsbycamanish ✅ Class 12 Economics by CA Manish Mahajan: https://t.me/class12economicsbycamanish ✅ This channel helps you understand the concepts related to : Class 11 Accountancy; Class 11 Economics; Class 12 Accountancy; Class 12 Economics; CA and CS Foundation basics . . . . CA Manish Mahajan is a first class commerce graduate from Panjab University, having done his graduation in B.Com (Finance Hons.) from GGDSD College, Chandigarh. He qualified Chartered Accountancy course in 2010 and was placed in merit list (31st All India Rank in Final and 22nd All India Rank in Foundation). He possesses a vast experience of more than 18 Years in teaching Accountancy, Economics and Mathematics to the students of Classes +1 and+2 and also mentored the students of B.Com and CA. He has authored the books on Accountancy, Economics and Indirect Tax Laws. His unique lecture delivery and practical method of teaching, helps the student to easily grasp and remember the subject. This Channel provides all the educational content for the students of class 11 and class 12 for subjects Accounts and Economics. Here you get regular & organized content for complete course study. You can Contact / WhatsApp us on the following numbers for further assistance: CA Manish Mahajan : ☎️ 7888695588, Concepts Commerce Academy Email: [email protected] Our website: https://conceptsacademy.in/ Like us on Facebook -   / conceptscommerceacademy   Follow us on Instagram -   / conceptscommerceacademy   Download our mobile learning App - https://play.google.com/store/apps/de... #Section37 #section37partnershipact #executoraccount #executorloanaccount #deathofpartner #deceasedpartnercapitalaccount #retirementofapartner #retirementofpartner #reconstitutionofpartnership #partnershipbasics #partners #accounts #partnershipaccounts #partnership #class12