UNIT 3- Accounts of Partnership Firms – Fundamentals

1. Introduction
Meaning, definition and features of partnership
Meaning and Definition of partnership
2. Features of partnership
Partnership Deed
Contents of Partnership Deed
3. Application of the Provision of the Indian PartnershipAct 1932 in the absence of Partnership Deed
4. Difference between Fixed Capital Method and Fluctuating Capital Method
Interest on Capital and Interest on Drawings of parterners
Interest on Capital
Calculation Interest on Capital
Interest on Drawings
Calculation Interest on Drawings
5. Salary and Commission to Partnership