Interest on Drawings | Accounting for Partnership Firms Fundamentals | Class 12 Accounts CBSE

Welcome to Simplified Accounts Studio 🎓 In this video lecture, we explain Interest on Drawings in a simple, clear, and exam-oriented manner, specially designed for Class 12 CBSE Accountancy students. Practice Assignments: https://drive.google.com/file/d/1XiF-... 🔹 Topic Covered in This Video: ✔ Interest on Drawings – meaning, need, calculation, and accounting treatment ✔ Treatment of interest on drawings in the Profit and Loss Appropriation Account ✔ Practical approach for numerical questions ✔ Common mistakes to avoid in board exams This lecture is part of our complete series on Accounting for Partnership Firms – Fundamentals, strictly as per the CBSE Class 12 syllabus. ________________________________________ 📘 Complete Syllabus Covered on This Channel – Partnership Firms (Class 12 CBSE) 📌 Accounting for Partnership Firms, Fundamentals • Meaning and features of partnership • Partnership deed • Provisions of the Indian Partnership Act, 1932 (in absence of deed) • Fixed and fluctuating capital accounts • Preparation of Profit and Loss Appropriation Account • Division of profit among partners • Interest on capital • Interest on drawings • Partner’s salary and guarantee of profits • Past adjustments ________________________________________ 📌 Goodwill: Nature and Valuation • Meaning and nature of goodwill • Factors affecting goodwill • Methods of valuation: – Average profit method – Super profit method – Capitalization method ________________________________________ 📌 Reconstitution of Partnership • Change in profit sharing ratio • Sacrificing ratio and gaining ratio • Revaluation of assets and reassessment of liabilities • Treatment of reserves and accumulated profits • Preparation of revaluation account and balance sheet ________________________________________ 📌 Admission of a Partner • Effect on profit sharing ratio • Treatment of goodwill (as per AS-26) • Revaluation of assets and liabilities • Treatment of reserves and accumulated profits • Adjustment of capital accounts • Preparation of balance sheet ________________________________________ 📌 Retirement / Death of a Partner • Change in profit sharing ratio • Treatment of goodwill (AS-26) • Revaluation and reserves • Adjustment of capital accounts • Preparation of retiring partner’s loan account • Calculation of deceased partner’s share of profit • Executor’s account and balance sheet ________________________________________ 📌 Dissolution of a Partnership Firm • Types of dissolution • Settlement of accounts • Preparation of: – Realisation Account – Partner’s Capital Accounts – Cash/Bank Account • Important notes on realization values and expenses ________________________________________ ▶ Related Videos Available on Simplified Accounts Studio ✔ Interest on Capital ✔ Profit & Loss Appropriation Account ✔ Past Adjustments ✔ Goodwill Valuation Methods ✔ Admission of Partner – Full Chapter ✔ Retirement & Death of Partner – Step-by-Step ✔ Dissolution of Partnership Firm 📌 Subscribe to Simplified Accounts Studio for clear concepts, board-oriented explanations, and exam-ready solutions. ________________________________________ 🔖 Hashtags (5) #InterestOnDrawings #PartnershipAccounts #Class12Accountancy #CBSEAccounts #SimplifiedAccountsStudio