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3|partnership firm _fundamentals |profit and loss appropration a/c l|Class12th |chapter 1|part_3|

Video Title: Fundamentals of Partnership: Key Concepts Explained Description: In this video, we delve into the essential aspects of partnership accounting, focusing on critical topics such as: 1. Interest on Drawings: Understand how partners' withdrawals affect the partnership's finances and the calculation of interest on these amounts. 2. Interest on Capital: Learn about the treatment of interest on the capital invested by partners, including its significance and impact on profit-sharing. 3. Adjustment Entries: Explore the necessary adjustments in partnership accounts, ensuring accurate representation of each partner's financial standing. 4. Guarantee of Partner: Discover what it means when a partner guarantees another’s liabilities and the implications for the partnership as a whole. Join us as we break down these concepts with clear explanations and practical examples, helping you grasp the fundamentals of partnership accounting effectively! #cbse #commercewallahbypw #education #commercewallah6259 #physicswallah #commercememes #ytshorts #ytviral