You are required to fill in the blanks with relevant accounting provisions with respect to the various aspects of Partnership - Accountancy - Accounting for Not-for-Profit Organisation

Question

You are
required to fill in the blanks with relevant accounting provisions
with respect to the various aspects of Partnership

Accounting
aspects

Provision/treatment

Profit/Loss
sharing ratio

Interest
on capital

Interest
on drawings

Interest
on advances

Remuneration
for firms work

If a
partner carries on any business of the same nature as and competing
with that of the firm

Partners
Capital account balance under Fixed capital account

Partners
Current account balance under Fixed capital account

In
absence of any specific mention, partners capital accounts are
maintained under which method?

Charu Kashyap · Accepted Answer

Dear Student,
Your question is not clear and appears to be incomplete Recheck
your question and please
be a little specific so that we can provide you with some
meaningful help Looking
forward to hear from you again!

Regards

Accounting aspects	Provision/treatment
Profit/Loss sharing ratio
Interest on capital
Interest on drawings
Interest on advances
Remuneration for firms work
If a partner carries on any business of the same nature as and competing with that of the firm
Partners Capital account balance under Fixed capital account
Partners Current account balance under Fixed capital account
In absence of any specific mention, partners capital accounts are maintained under which method?