Class 12 Partnership Accounts: Retirement of a Partner | How to Prepare Retiring Partner’s Loan A/c? скачать в хорошем качестве

Class 12 Partnership Accounts: Retirement of a Partner | How to Prepare Retiring Partner’s Loan A/c?

Class 12 Accountancy | Lecture 46 | Retirement of a Partner – Preparation of Retiring Partner’s Loan Account Welcome to Education Insights by CA Shivam Mittal, your trusted guide for Class 12th Commerce preparation (RBSE/CBSE/NCERT). This lecture is Lecture 46 of Partnership Accounting, where we will deeply understand: 👉 Retirement of a Partner 👉 Settlement of Retiring Partner’s Dues 👉 Preparation of Retiring Partner’s Loan Account This topic is extremely important from the board exam point of view, as well as for building conceptual clarity in partnership accounts. 🔑 Topics Covered in this Lecture Meaning of Retirement of a Partner Rights of Retiring Partner Settlement of Retiring Partner’s Dues Cash Settlement vs. Loan Settlement Preparation of Retiring Partner’s Loan A/c (Step by Step) Journal Entries for Loan Account Treatment of Interest on Loan Practical Questions & Solutions 📖 What is Retirement of a Partner? When an existing partner leaves the firm, either due to age, health, agreement, or mutual consent, it is called retirement of a partner. The remaining partners continue the business. Upon retirement, the partner is entitled to: ✔ Settlement of Capital ✔ Share of Reserves and Accumulated Profits ✔ Revaluation of Assets and Liabilities ✔ Share of Goodwill ✔ Settlement through Cash or Loan 💡 Retiring Partner’s Loan Account If the firm cannot pay the full dues immediately, the amount payable to the retiring partner is transferred to Loan Account. This account is treated as a liability in the books of the firm. Interest is generally paid on such loan at an agreed rate. Installments may be paid along with interest until the full settlement is made. Example Format of Retiring Partner’s Loan A/c: Debit Side → Payments made to the partner (cash/ installments) Credit Side → Balance transferred from Capital A/c + Interest Payable ✔️Why study from Education insights? Education insights is an online education platform that helps give You NCERT/CBSE curriculum-based free full courses. so that you can perform well in any and all exams you give in your academic career. 👉 Contact us ➡️ Connect with us: ceoeducationinsights@gmail.com ➡️ Instagram:   / educationinsights   ➡️ Facebook:   / educationinsights-457474148332755   You can download our app 'EDUCATION INSIGHTS' from play store. Link for app: https://yeeuy.on-app.in/app/home?orgC... You can buy our book from amazon: Link : https://www.amazon.in/dp/B0CTH87DQY?r... #partnershipaccounting #accountssolutions #accountsclass12 #accountingforpartnershipfirm #preparationofretiringpartnersloanaccount #retiringpartnersloanaccount