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SERIES
  • 7/2/2025
Transcript
00:00:00I have a couple days ago, and I probably took up a couple days ago.
00:00:02I took up my own pastime before, and I'm going to pick up.
00:00:06I have to cut up my own pasta sheet.
00:00:12I got a little desolate of the pasta sheet.
00:00:21What the pasta sheet has made?
00:00:56So, we have completed up to this illustration, interest on drawings and all.
00:01:26So, you have to understand the capital ratio.
00:01:36Capital ratio in the end, let's try to finish up this.
00:01:51Now, A and B formed a partnership with a capital contribution of 50 and 30 respectively on
00:02:081 January 22, the profits were to be shared in the capital ratio.
00:02:15Capital on the 50 and 30, 5 is the capital ratio of default.
00:02:20The capital ratio is constantly changing.
00:02:27Upper capital ratio became bigger.
00:02:29Right.
00:02:30Let's see, in case of A, opening capital, for A, opening balance is bigger than A is capital.
00:02:44On 1, 1, 22, balance is bigger than 50,000.
00:02:5731st, March is bigger than 50,000.
00:02:5831st, March is bigger than 50,000.
00:03:04Addition is bigger than 50,000.
00:03:05Addition is bigger than 50,000.
00:03:071st, July is bigger than 50,000.
00:03:09So, 1st, July 2019.
00:03:10tills wirk is bigger than 50,000.
00:03:11Now, imman happens to 29,000.
00:03:12Look, wirk is bigger than 50,000 more.
00:03:13First we get bigger than 50,000.
00:03:14But 1nd, 20, March is bigger than 30,000 more.
00:03:15ngoiulebach says, but we have ticketed to 20,000 dollars in the description.
00:03:181st July 22, minus 3,000 and then 1st September plus 5,500 then 1st November
00:03:48minus 4,500, minus 4,500, now you have capital, what are you doing, this is A, this is B, B is capital, 1st January 22, the balance is 30,000,
00:04:1030,000, 31st March withdrawal, minus 2,000, 1st July further investment, 9,000,
00:04:331st September as well, 1st November as well, 1st November as well, further investment,
00:04:401st November as well, 1st November as well, 1st November as well, further investment,
00:04:471st November as well, 1st November as well, further investment,
00:04:541st November as well, 1st November as well, 1st November as well, 1st December as well,
00:05:0150,000 is there for some period.
00:05:07In order to say, 55,000 is 55.
00:05:1255,000 is 55.
00:05:173,000 minus 10 is 52.
00:05:2157,500 minus 4,000 so null 50, 3,000, 4,500 subtract what time.
00:05:33BOD balance initial 30, 28, 9,000 add per number 37, 1,000 subtract per number 36, 4,000 invest per number 40 average.
00:05:491 change in the initial level is 1.
00:05:53But, year on year periodically there are changes.
00:05:55That means product method.
00:05:58How much time do you have to do this?
00:06:003 months, 7, 8, 2 months, 9 months, 11 months, 9 months, 10 months, 2 months, year end of the 31 December 22, 11, 12 months.
00:06:17R.
00:06:190,ológicos 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000, 3,000.
00:06:24This is 2.
00:06:26If I multiply these 2, I will get the product.
00:06:30the product. Product develop 1,50, 1,65,000, 1,04,000 and 1,15,000, 1,06,000 total being
00:06:566,40,000 and 30 into 3, 90,000 and 28 into 3, 84, 37 into 2, 74, 72, 80,000 total being
00:07:204,000, so here are the ratio, 64 is to 40, yes, okay, 132, 8 is to 5, 8 is to 5 is the capital ratio,
00:07:41capital in the changes, initial capital ratio, changes in the sense, that is plus or minus
00:07:48and the period based on how many months that value exists, then you can proceed further,
00:07:55clear, we will move on to the next illustration, illustration number 5, clear net text
00:08:07and, I mean, let's say, let's have a 포bant, blue bracket here, simpleyo, critter,
00:08:23calculate raise kundnenge, raise pyrillan niggal over kundn
00:08:48let's move on to the next illustration, illustration no. 5
00:08:53pundit
00:09:20Okay, CA sum is not yet. CA, CMA, additional sums, where are the recommended texts, all the unique and different illustrations were around. All the things are required for your professional exams. Let us go for the fifth one.
00:09:39Why not join? Approach, try at least. Speed has become some time. Okay. Hope it is readable.
00:10:09So, what is the requirement?
00:10:13Calculate PSR profit sharing ratio interest on capital interest on drawing sell I think
00:10:18I am going to be sure.
00:10:19A NPR partner sharing profits and losses in the ratio of their effective capital in a
00:10:24ratio of a capital ratio.
00:10:25It is not initial capital ratio it is what about the effective capital means there may
00:10:30be drawings or further investment.
00:10:32So, what is the requirement?
00:10:391 January 22, balance in the beginning, 100,000s and B were both in the beginning, 1,122 balance
00:10:57in the beginning, 60,000s, rupees in thousands.
00:11:03Practice for number 1000s, speed up.
00:11:06Full edit regarding 3-0, it saves your time.
00:11:10A introduced a further capital of 10,000 on 1 April 22.
00:11:16100,000 on the ship, 110,000.
00:11:23And another 5000 on 1 July 22.
00:11:29On 30th September 22, A withdrew 40,000 rupees.
00:11:449.
00:11:468.
00:11:4812.
00:11:49Ok.
00:11:5010.
00:11:5120.
00:11:5220.
00:11:5322.
00:11:5423.
00:11:5525.
00:11:5625.
00:11:5725.
00:11:5825.
00:11:5925.
00:12:0026.
00:12:0126.
00:12:0227.
00:12:0327.
00:12:0425.
00:12:0526.
00:12:0624.
00:12:0727.
00:12:0827.
00:12:0928.
00:12:1029.
00:12:1129.
00:12:1220.
00:12:1340,000 rupees on 30th September 22.
00:12:4375 on 1st July 22, be introduced to further capital rupees 30,000.
00:12:57The partners drew the following amounts in anticipation of profit.
00:13:05Okay.
00:13:06Okay.
00:13:07Now, the drawings will rent with them on the drawings.
00:13:10One law path to the capital.
00:13:13Drawings against capital.
00:13:17Drawings against profit.
00:13:21Drawings against profit.
00:13:22And that's the P&L appropriation drawings in bottom.
00:13:26That's the point.
00:13:28Is there okay?
00:13:29So, interest on drawings calculated fundas do null.
00:13:32Drawings against profit.
00:13:34That's the interest on drawings calculated.
00:13:36Drawings against capital.
00:13:38So, this drawings will not have any interest.
00:13:49This drawing has no interest, this is one of the drawings against capital, clear drawings
00:14:02against capital.
00:14:09Now, this drawings A drew 1000 per month at the end of each month beginning from January
00:14:2322, B drew 1000 rupees 30th June and 5000 on 30th September in the marhi drawings put
00:14:29out.
00:14:33Interest on capital 12 percentage, interest on drawings 10 percentage.
00:14:36So, in the render drawings, what are we going to do?
00:14:42Interest calculated by drawing.
00:14:44Now, this is for how many months?
00:14:513 months, 3 months, this is for 3 months, this is for 3 months.
00:15:06LMA 3 months, 300,000, 330,000, 345,000, 225,000.
00:15:18So, the total value being 1200,000.
00:15:21Am I right?
00:15:22Product, product, month balance amount multiplied the month with rupees is the product value.
00:15:35So, this is for 6 months, either over 6 months, 6 into 30, 360 and 90 into 6, 540 and this
00:15:50value being 900,000.
00:15:54Now, capital ratio, capital ratio is equal to 1200 is to 900 or 12 is to 9 or 4 is to 3.
00:16:13So, interest on capital, which is 12 percentage.
00:16:16So, interest on capital, 1200, that is 12 percentage, one month again a product month convert
00:16:30one month, then 12,000 rupees is the interest on capital for him.
00:16:37In case of B, interest on capital 900,000 into 12 percentage into 1 by 12, 9,000 rupees is
00:16:52the interest on capital, interest on capital.
00:17:02Then next, then next, we will go for calculating interest on ranks.
00:17:13A, A drew 1000 per month at the end of each month, at the end of each month, over maasad
00:17:20kadacilium, over maasad kadacilium drawings irindhal, enna pannu?
00:17:24Interest on drawings.
00:17:26Interest on drawings.
00:17:27Adhoi la, E, over maasad drawings irindhal, unna maasad kynama enna pannu wana pannu wana kakka, monthly drawings, monthly drawings inter rate of interest inter 5.5 divide by 12.
00:17:45monthly drawings into rate of interest into 5.5 divided by 2, it is one number, monthly beginning 6.5, middle of the month 6, end of the month 5.5, in the formula we apply.
00:18:08in the Singapore Academy concept video, you will understand that one also, but I am having the formula here to solve this.
00:18:20So monthly drawings, what is the amount of drawings?
00:18:26monthly drawings, I am going to put in 5.5, in the month, drop the rate of interest for drawings being
00:18:3710% and 5.5 which is monthly data.
00:18:43What is the ultimate value?
00:18:49550.
00:18:51550.
00:18:525.5.
00:18:535.5.
00:18:545.5.
00:18:555.5.
00:18:565.5.
00:18:575.5.
00:18:585.5.
00:18:595.5.
00:19:005.5.
00:19:016.6.
00:19:056.0.
00:19:066.5.
00:19:075.5.
00:19:0810.
00:19:09Hn ahh 1.
00:19:1010.
00:19:115.6.
00:19:126.6.
00:19:146.6.
00:19:156.7.
00:19:166.7.
00:19:177.7.
00:19:197.8.
00:19:207.8.
00:19:218.3.
00:19:2210.3.
00:19:238.S.
00:19:248.6.
00:19:259.4, 9.7.
00:19:268.7.
00:19:275.1.
00:19:288.7.
00:19:29So, it is 10% for how many months? Year end is 31 December 6 months.
00:19:3650,000 into 10% into 6 by 12 put it in 3 months. 3 months put it in 3 months? 125,000 will be interest on ranks.
00:20:06How many months? How many months?
00:20:141 January 2022, 1 February, 1 March, 1 April, 1 May, June, July, August, September, October, November, December.
00:20:341 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1 May 1
00:21:049 months, last one is 1 month.
00:21:07We can do the product method in terms of Rs. 1 month.
00:21:12If there is a 1000 constant, the 1000 will appear.
00:21:19In the same length, there is a summation.
00:21:24If you have summation, you can use n into n plus 1 by 2.
00:21:29Okay, 78.
00:21:34Summation being 78.
00:21:3678,000 is the product value.
00:21:41Now, every board one, every board one.
00:21:4778,000 the product value into rate of interest into 1 by 12.
00:21:53Do not forget to multiply with 1 by 12.
00:21:56How did I get that 78,000?
00:21:591000 into 78.
00:22:02Okay.
00:22:04These two numbers are constant.
00:22:06Am I right?
00:22:07If you have neutralized, what do you want?
00:22:1078 by 12, you will get 6.5.
00:22:14That's the answer.
00:22:15That's the answer.
00:22:17Monthly equal drawings.
00:22:20Year beginning in the beginning.
00:22:22Rate of interest into 6.5 and 14.
00:22:25Answer data.
00:22:27Answer data.
00:22:29Suppose,
00:22:32How about 6.5?
00:22:33It's the 6.5.
00:22:35It's the month end of the month.
00:22:36It's the end of the month.
00:22:37When you're talking about the month,
00:22:39it's the 31 January.
00:22:41So, it's the month of 11 months.
00:22:42Last, the month of the month is the month.
00:22:43Last 1 is the month of the month.
00:22:45So, it's the month of the month.
00:22:4711 into 12, n into n plus 1 divided by 2, 66 will be the value, 1000 into 66 into rate of interest, but product and you can convert into 1 by 12, here you can convert into this, it will be equal to 5.5,
00:23:09monthly drawings, monthly drawings, at the month end, it is beginning, it is month end, into rate of interest, into 5.5, is the formula, right,
00:23:26in the middle of the month, 6.5, 5.5, average, 6, our monthly drawings, monthly drawings, where the drawings happens, in the middle of every month, into rate of interest, into rate of interest, into 6 is the formula,
00:23:53this is the formula, in the middle of the month, in the middle of the month, in the middle of the month, in the middle of the month,
00:24:00hope you will be now able to understand the fifth one, this concept is already given in the Singer Academy's concept videos, try to finish up this, we will move on to the next illustration.
00:24:08So, let's do the next illustration.
00:24:38illustration number 6, illustration number 6, illustration number 6,
00:25:07illustration number 6,
00:25:14now,
00:25:32Ram and Rahim start business with capital of 50,000, okay,
00:25:39you have to prepare profit and loss appropriation account, and capital account, and current accounts, capital account, current account, and current account,
00:25:46fixed capital method, okay, so I will now prepare what?
00:25:52P&L appropriation account, as well as capital account, come on, join with me,
00:25:59speed up,
00:26:06some,
00:26:08some,
00:26:10some,
00:26:11some,
00:26:17Two partners are based.
00:26:37Capital Appropriation Account, Capital Account, Current Account.
00:26:53Two partners are there, Ram and Rahim.
00:27:03Ram and Rahim start business with Capital of Rs. 30 and 50 and 30 by bank.
00:27:23In 1st January 2022, Rahim is entitled to a salary of Rs. 400 per month.
00:27:37PNL Appropriation to share.
00:27:44To Rahim's Capital, Rahim Capital for salary.
00:27:52400 per month, 12 months to 4,800.
00:27:55That is the current account.
00:27:58So, by PNL Appropriation.
00:28:00Under that salary is meant for Rahim.
00:28:05Yeah.
00:28:06Salary is meant for Rahim, 4,800.
00:28:09Interest is allowed on capitals and is charged on rights at 6% per annum.
00:28:21Interest is allowed on capitals.
00:28:24So, interest on capitals.
00:28:25That is Ram and Rahim.
00:28:31Your capital is Rs. 50,000 in Rs. 6% per annum.
00:28:393,000.
00:28:40Rahim will be here.
00:28:41And profits are to be distributed equally after the above noted adjustments.
00:28:53So, profit and loss.
00:28:561 is to 1 ratio equally for Ram and Rahim.
00:29:04So, interest on capital.
00:29:073,000 Ram okum.
00:29:091,800 Rahim okum.
00:29:14And profit if any should also be shared.
00:29:20During the year, Ram withdrew 8,000. Rahim withdrew 10,000.
00:29:26Drawings against capital are the capital of debit sale upon.
00:29:30Drawings against profit are the current upon.
00:29:33As nothing stated, we assume usually it is drawings against profit.
00:29:38Two drawings.
00:29:438,000 by Ram and 10,000 by Rahim.
00:29:48The profit for the year before allowing for the terms of partnership date came to Rs. 30,000.
00:29:56PNLKP won the net profit Rs. 30,000.
00:30:01Assuming the capital are fixed and prepared the profit loss.
00:30:04Up at the tally pinning now, what is the balancing figure you have?
00:30:08I think the balancing figure being?
00:30:1420,940.
00:30:154?
00:30:164?
00:30:175.
00:30:185.
00:30:19Interest on drawings?
00:30:205.
00:30:215.
00:30:225.
00:30:234?
00:30:245.
00:30:255.
00:30:265.
00:30:275.
00:30:285.
00:30:295.
00:30:305.
00:30:315?
00:30:325.
00:30:335.
00:30:346.
00:30:355.
00:30:366.
00:30:376 percent.
00:30:386 percent.
00:30:396 percent but preferably half year can become better.
00:30:406 percentage, 6 percentage but preferably the half year can be getting the better, you know
00:30:49date of drawings is not given up to each other, they could have withdrawn anywhere in this
00:30:52year, after half year put in all over the, 240 for ROM, yeah, Rahimukh put the right
00:31:02income 300, so PNL appropriation account, interest on drawings 240 and 300, now the value being
00:31:1620,940 shared equally ROM will get 10,470 and Rahimukh will get 10,470.
00:31:25So, this is the total of 13,470 and there is a balance, the total of 13,470 and there is
00:31:53a balance, 5,230, Rahimukh Adem Madari Pathingna, 6,770, correct, sorry, 17,070, 17,070, balancing
00:32:17figure being 6,770, rerate that here, either you can rerate it here.
00:32:24Ok.
00:32:41Clear.
00:33:11So, in the book 7th sum, with the help of the same information given in illustration 6, let us prepare capital on current accounts, already prepared.
00:33:23So, in the book 8th question, total difference sum, suppose you have fluctuating capital on current account, this is $47,000, and this is $55,230, and this is $56,770.
00:33:51Okay.
00:33:57One second.
00:33:5930 less 0, 36, in the book 7th, in the book 7th, in the book 7th, in the book 7th, in the book 7th, in the book 7th, in the book 7th, that's all.
00:34:16We will now move on to the next illustration, question number 8.
00:34:19Question number 8.
00:34:43Clear.
00:34:43Question number 8.
00:35:13Question number 8.
00:35:43Similar sum were already discussed available in our concept lectures.
00:35:56Let us see here.
00:36:00A and B were partners in a firm, sharing profits and losses in the ratio of 3 to 2.
00:36:10They admit see for 1 6th share in profits.
00:36:14And guaranteed that his share of profits will not be less than 25, 250 lakhs.
00:36:24250 lakhs.
00:36:25250 lakhs is Keelea over the Poha.
00:36:27That is actually guaranteed.
00:36:28Total profits of the firm being 900 lakhs.
00:36:32See, what is the new ratio?
00:36:35Seek 1 6th to get the profit, let the profit be 1.
00:36:42Let the profit be 1.
00:36:47See, balance after C.
00:36:54C is share.
00:36:561 6th is Keelea over the Poha.
00:36:571 6th is Keelea over the Poha.
00:36:59So, balance 5 6th.
00:37:012 5th is Keelea over the Poha.
00:37:02At cost point, what's the dollar?
00:37:03So, balance 5 6th is around having this balance.
00:37:05See, balance 5 6th testedать with $2.
00:37:082 5th.
00:37:112 by 6.
00:37:14So, balance 5 6th is 2 by 6th.
00:37:163 by 6th.
00:37:20Then, balance 5 6thigh of the Poha.
00:37:22ous take down a bit that отлич be 5,80여� sini,
00:37:240 3 years later.
00:37:26Asa, balance 6th goes.
00:37:27Now, balance the Poha.
00:37:28So in order to match,
00:37:29Currently, inside the purchase del�uiah
00:37:316 seek on the 1 by 6 otherwise 3 is to 2 is to 1 is the ratio.
00:37:41Let us see PNL appropriation account in different angle PNL appropriation account PNL appropriation
00:37:52account. First case on the guaranteed by okay guaranteed by firm. It is the first scenario.
00:38:03It is guaranteed given by A one of the partners. It is guaranteed given by A and B equally.
00:38:11It is the Moona scenario. Net profit contribute to 900 lakhs. 900 lakhs.
00:38:21Now, if the firm of Gantle is the first scenario, PNL ratio will share with you.
00:38:31Who is A, B, C?
00:38:35Whichever is higher half, 900,000s will share 1-6th, 150, or guaranteed amount, 250.
00:38:59So, we are offering 250.
00:39:12Okay.
00:39:17Okay.
00:39:47Okay.
00:39:48Okay.
00:39:49Okay.
00:39:50Okay.
00:39:51Okay.
00:39:52Okay.
00:39:53Okay.
00:39:54Okay.
00:39:55Okay.
00:39:56Okay.
00:39:57Okay.
00:39:58Okay.
00:39:59Okay.
00:40:01Okay.
00:40:02Okay.
00:40:03Okay.
00:40:04Okay.
00:40:05Okay.
00:40:06Okay.
00:40:07Okay.
00:40:08Okay.
00:40:09Okay.
00:40:10Okay.
00:40:11Okay.
00:40:12Okay.
00:40:13Okay.
00:40:14Okay.
00:40:15Okay.
00:40:16Okay.
00:40:17Okay.
00:40:18Okay.
00:40:19Okay.
00:40:20Okay.
00:40:21Okay.
00:40:22Okay.
00:40:23Okay.
00:40:24Okay.
00:40:25Okay.
00:40:26Okay.
00:40:27Okay.
00:40:28Okay.
00:40:29Okay.
00:40:30Okay.
00:40:31Okay.
00:40:32Okay.
00:40:33Okay.
00:40:34Okay.
00:40:35Okay.
00:40:36Okay.
00:40:37Okay.
00:40:38Okay.
00:40:39Okay.
00:40:40Okay.
00:40:41Okay.
00:40:42Okay.
00:40:43Okay.
00:40:44Okay.
00:40:45Be sure.
00:40:46Now,
00:40:47let's go back.
00:40:48Okay.
00:40:49Okay.
00:40:50Okay.
00:40:55Okay.
00:40:56Let's go back.
00:40:58Okay.
00:40:59Okay.
00:41:01Okay.
00:41:12Okay.
00:41:13one of the partners are, two of the partners are, rest of the partners are, as usual calculate
00:41:18it. So, the amount added in C's capital should be shared by A and B, because A and B
00:41:46and B. So, the amount added in C's capital should be less. Equally, 400 for A, 250 for B, 250 for C. Clear?
00:42:16Even though A, 250 for A, 250 for B, 250 for A, 250 P, And B, 250 I use B, 280 for basic
00:42:36now true or false
00:43:06in the absence of agreement partner share profits of the business in the ratio of their capital
00:43:19potentially equal correct so it is false profit sharing ratio and capital contribution ratio
00:43:29need not be same that is same are true true capital capital put it is equal
00:43:36share the rules true every partnership firm must register itself with the register of
00:43:42firms of indra register pannhi irukna ma overall registration kood irukklaam so registration
00:43:47pay the false a partner can advance loan to the partnership firm in addition to the capital
00:43:54contributed by him kood irukklaam advance loan kood irukklaam adu kawar ki interest eligibility
00:43:58irukkha if the rate of interest is not said abdinnalam so true and fifth one a partner can demand
00:44:12interest on capital even if it is not provided in the partnership deed abdinnarang false if
00:44:19your partner does not take part in day to day business activities of the firm then he
00:44:23is not entitled to any share of profit abdinnarang aabdira false abdinnalangaday false and a work
00:44:30pannilana salari kade irukklaam yolay profit sharing kade irukklaam yolay profit sharing kade irukklaam yolay
00:44:34interest should be paid at the rate of six percent per annam and partner's loan even if it is not provided so loan kana interest kudukku no adu
00:44:44wandhu six percentage deed le ilan alam paravar la so the true husband and wife cannot be partners in the same firm same firm le partner arukkha
00:44:52abdinnarang kade irukklaam and one senior partner is principal and the other partners are his agent and principal all will have the agency as well as principalship also so false partners are the agents of the firm and each other
00:45:11are the agent and each other's the mutual and each other's the truth so in the same words
00:45:17and the one word questions are the one word question let us go for the multiple choice questions
00:45:26if your firm prefers partners capital account to be shown in the amount introduced by the partners as
00:45:37capital account as a capital in the firm then entries for salaries interested drawings interest on capital and drawings and the and profits are made in
00:45:45yedilas will draw yonay
00:45:53partners capital account firm prefers partners capital account to be shown at the amount introduced by the partner as a capital in the firm
00:45:59and and хочешь apart from the인 named the company so the profits are not a capital account to be added to our companies and splendid
00:46:03changes are occupied the drawings expected Jeonghan
00:46:04meant so you have to think that means fixed capital
00:46:05fixed general financial financial capitaliddarang
00:46:07and EVER
00:46:21Third challenge İner 되�
00:46:22Prozent 9
00:46:23has a right to receive interest on their loans, how much percentage? 6 percentage.
00:46:32Now the relationship between persons who have been agreed to share the profits of the business
00:46:38carried by all or any of them acting for all is known as what? Partnership. The firm has
00:46:45earned exceptionally high profits from a contract which will not be renewed. In such a case,
00:46:52the profit from this contract will not be included in profit sharing of the partners and
00:46:56so on. Fourth, calculation of goodwill are both and so on. Calculation of goodwill
00:47:05are both and so on. But profit sharing of the partners will be included. Now, what is
00:47:14called goodwill? Goodwill bringerth, compared to future profit earning skill, earning power,
00:47:22monetary value is one of them, that is goodwill. One company that has been awarded in the
00:47:26last year. That is 10. That is 10. That is 10. That is 10. In 3 years, 10, 10
00:47:33comes from 10. What could be the expected profit in the next year? Maybe 10. If 10 comes from
00:47:392-3 verses cut-time, 1-2 verses, 2-3 verses are cut-time, 3 verses are cut-time, 3 verses are cut-time.
00:47:45Say, 3 verses are cut-time. 3 verses are cut-time, 3 verses are cut-time, 3 verses are cut-time,
00:47:52Goodwill is calculated as 3 years purchase of 3 years average profit eventual one.
00:48:053 years purchase or 2 years purchase of rent number 1 are confused.
00:48:132 years purchase of 3 years average profit.
00:48:16May be simple average, weighted average, super profit in all methods.
00:48:20The first step is to look at the concept lecture.
00:48:23Goodwill is the Garth Chapter.
00:48:26The next chapter is the 3rd.
00:48:28Right.
00:48:30Now, if you go to a business,
00:48:33seller says,
00:48:35plant and machinery assets with the value of the plant.
00:48:39For the next step,
00:48:42regular customers have a strong base.
00:48:47If you go to a business,
00:48:50you will definitely have a reputation.
00:48:53If you say,
00:48:55look at the market,
00:48:56the market has a strong base.
00:48:58If you go to a business,
00:49:00you will have a strong base.
00:49:02If you go to a business,
00:49:03you will have a strong base.
00:49:04If you go to a business,
00:49:05you will have a strong base.
00:49:06If you go to a business,
00:49:07you will have a strong base.
00:49:08That is the indication of your future maintainable profit.
00:49:10What is the case?
00:49:11What is the case?
00:49:12The indication of previous year's profit.
00:49:15This is nothing but an indication for
00:49:17amount maintainable or profit maintainable in the future.
00:49:21Otherwise,
00:49:22it will be named as Future Maintainable Profit.
00:49:26Future Maintainable Profit.
00:49:28If you go to a business,
00:49:30if you take a business to build a business,
00:49:33you will have a strong base.
00:49:35In the last year,
00:49:36you will have a strong base.
00:49:38That is the case.
00:49:40You will have a strong base.
00:49:42You will have a strong base.
00:49:43You will have a strong base.
00:49:45So, goodwill is nothing good, so goodwill is nothing good.
00:50:15But, future earning power measured in terms of money is called goodwill.
00:50:20How can I predict the future earnability based on the previous year's average profit?
00:50:25This is our goal.
00:50:28Now, in the particular fourth point, I explain the detail included.
00:50:36Suppose, this year 1, this year 2, year 3.
00:50:41Year 2 will come, it will be 50% profit.
00:50:51Why?
00:50:52During the time of COVID, everything is locked down.
00:50:58Lockdown is automatically generated by medical equipment.
00:51:02So, if you check the oxygen level of oxygen, you can check the oxygen level of oxygen level of oxygen level of oxygen level.
00:51:21I have to tell you that, I am going to fix this year 2.
00:51:32Because we are in a bit serious condition, we will go to the hospital and you will get that.
00:51:41Right.
00:51:422,000.
00:51:43Now, we have 3,000.
00:51:45So, in this case,
00:51:4795,000,
00:51:48there is an unexpected profit.
00:51:52If I have 10,000,
00:51:55there is a special situation.
00:51:59If I say this,
00:52:01Sir,
00:52:03there is an unexpected profit.
00:52:06There is an average profit.
00:52:09The firm has earned exceptionally high profits.
00:52:21And the high profits,
00:52:23for the goodwill calculation.
00:52:27Goodwill calculation is 10 plus 10 plus 10,
00:52:2930 by 3,
00:52:3110 will be the meaningful,
00:52:33not that exceptional.
00:52:34Exceptional may be in either side.
00:52:36Exceptionally high,
00:52:38exceptionally weaker.
00:52:39Fair action,
00:52:40real mass,
00:52:41business is dull.
00:52:42And the mass,
00:52:432,000.
00:52:44That's the average,
00:52:45you can skip.
00:52:46Exceptional item,
00:52:48remove the value of goodwill.
00:52:50So, B is the correct answer.
00:52:52B is the correct answer.
00:52:53Clear?
00:52:54Fifth one.
00:52:55In the absence of an agreement,
00:53:10partners are entitled to
00:53:13interest on loan advances corrected,
00:53:15commission is correct.
00:53:16Okay.
00:53:17Okay.
00:53:18And then,
00:53:19what?
00:53:20What?
00:53:21Partners are supposed to pay interest on drawings only when dash by the dash.
00:53:28Okay.
00:53:29Provided and by the agreement are agreed by the partners.
00:53:38And then,
00:53:39provided and by the agreement are agreed by the partners.
00:53:40So, C is the correct answer.
00:53:41When a partner is given a guarantee by the other partner, laws on such a guarantee will be
00:53:56burned by the other partner.
00:53:57Okay.
00:53:58Partner who gave the guarantee.
00:53:59Not all the partners.
00:54:00We have seen this.
00:54:01Eighth.
00:54:02ABC had capital 50, 40, 30 respectively for carrying on business in partnership.
00:54:19The firm's reported profit for the year was 80,000.
00:54:23As per the provisions of the Indian partnership Act, 1932, find out the share of each partner
00:54:29in the above amount.
00:54:30After taking into account that no interest has been provided on the advance on an advance by
00:54:36A of Rs. 20,000 in addition to his capital contribution.
00:54:43Interest coulduk le ne soulhe irukkaraangu.
00:54:45Interest coulduk le ne soulhe irukkaraangu.
00:54:48That agreement is not.
00:54:49That is not.
00:54:50That is not.
00:54:51But agreement is not.
00:54:52We have to take into account.
00:54:53We have to take into account.
00:54:54We have to take into account.
00:54:55Correct.
00:54:56Right.
00:54:57Then, what do we do?
00:54:58So, if we have to take into account.
00:54:59How do we take into account?
00:55:0180,000 rupees,
00:55:041,800.
00:55:056% H is 1,200, balance is 78,800, this will be shared equally, 26,267, 26,267, A key, B key, C key,
00:55:34A will get 27,467, A will get so much, B and C gets only 26,267, equal will not be possible, others also not possible, so A is the correct answer.
00:55:54Interest on loan or advance is 6% default, act will provide, agreement will put it, clear?
00:56:03We will move on to the ninth one.
00:56:13XYZ or partners in a firm, at the time of division of profits for the year, there was a dispute
00:56:19between the partners, profit before interest on capital, partners capital 6000 and X wanted
00:56:25interest at the, on capital at the rate of 20 percentage on his capital contribution was
00:56:301 lakh.
00:56:31As compared to that of Y and Z was only this much.
00:56:35So, X on the demand .
00:56:42Okay.
00:56:44Now, profit 6000 will be distributed equally with no interest on the year, capital having
00:56:51one of the choices, that may be correct, right?
00:56:54If the deed is silent, then interest on capital will not be provided.
00:56:57Whatever the profit is there, it will be shared by all the partners equally.
00:57:01So, that is correct.
00:57:02Now, 10th and 11th.
00:57:1110th and 11th.
00:57:24X, Y and Z are partners in a firm.
00:57:29At the time of division of profits for the year, he determined interest rate of 24 percent
00:57:35per annum on his loan of his 80.
00:57:37There was no agreement had been wrong.
00:57:40So, why advance could be there?
00:57:43That advance interest over 6 percentage.
00:57:466 percentage could be there?
00:57:484800.
00:57:49That will be shared by the others equally.
00:57:56400, 400, 400.
00:57:59This will be for X.
00:58:01Sorry.
00:58:02This will be for Y.
00:58:03This will be for X.
00:58:04Okay.
00:58:05So, X will be 400.
00:58:08You will be 5200.
00:58:10So, Z will be 400.
00:58:12C is the correct answer.
00:58:14C is the correct answer.
00:58:1511th one.
00:58:18X, Y and Z are partners in a firm.
00:58:25At the time of division of profit for the year, there was a dispute between the partners.
00:58:31Profits before interest on capital being 6000 and Z demanded minimum profit of 5000 as his
00:58:38financial position was not good.
00:58:40However, there was no return agreement.
00:58:41It is equal to me.
00:58:42So, the agreement is not good.
00:58:43However, there was no return agreement.
00:58:44It is equal to me.
00:58:45So, the agreement is not good.
00:58:46Okay.
00:58:47So, what is the correct answer?
00:58:48You will share the two thousand, two thousand, two thousand, two thousand.
00:58:49The other is not acceptable.
00:58:50Shall I move to the next one?
00:58:54Let's now deal with practical question number one.
00:58:55Come on.
00:58:56Come on.
00:58:57Come on.
00:58:58You can join.
00:58:59Come on.
00:59:00Come on.
00:59:01Let's now deal with practical question number one.
00:59:06Come on.
00:59:07How is your account?
00:59:08Sorry.
00:59:09Shall I move on to the next one?
00:59:10Let's now deal with practical question number one.
00:59:21Come on.
00:59:22You can join them.
00:59:23I'll do it.
00:59:54Now, we can prepare the P&L Appropriation Account here.
01:00:08So P&L Appropriation.
01:00:09You are required to prepare P&L Appropriation Account.
01:00:15A, B, C entered into the partnership on 1421 to share profits and losses in the ratio
01:00:22of 5 is to 3 is to 2.
01:00:24A personally guaranteed that C is the share of profit after charging interest on capital
01:00:28say that 5% per annum would not be less than 30,000 in a year.
01:00:32Interest on capital for A, B, C. So, how much capital is now?
01:00:395% is putting in all over that, 16,000 for A, A, 24,000 is the total interest on capital.
01:00:55And for the period being 159,000, 159,000 and what is the balance you are getting?
01:01:10That is the balance you are getting?
01:01:12That is the balance you are getting?
01:01:14A, B, C.
01:01:16And that is the balance you are getting?
01:01:17So, it is the balance of 159,000 so it is the balance you are getting?
01:01:2025,000?
01:01:21159,000, 159,000, 159,000, 159,000, 159,000?
01:01:221,25
01:01:233
01:01:253
01:01:265
01:01:273
01:01:282
01:01:29ratio
01:01:3067.5
01:01:3167.5
01:01:34for A
01:01:36B
01:01:3737.5
01:01:40C
01:01:41will get
01:01:4225
01:01:44but
01:01:45minimum
01:01:4730
01:01:48C
01:01:4930
01:01:515
01:01:52we can
01:01:53subtract
01:01:54any partner
01:01:55Gandy
01:01:56subtract
01:01:57So, here
01:02:01then 62.5
01:02:02is for A
01:02:0357
01:02:04it is
01:02:0562
01:02:06okay
01:02:0762.5
01:02:08minus 5
01:02:0957.5
01:02:1037.5
01:02:1130
01:02:12is the final
01:02:13value
01:02:14answer
01:02:1537.5
01:02:1630
01:02:17is the
01:02:18final
01:02:19answer
01:02:20.