Accounting for Partnership | Lecture 2 | CUET 2026 | Class 12 Accountancy by Tejpal Arya Sir
Complete Guide to Accounting for Partnership Firms! In this video, we cover the fundamentals of Partnership Accounting, including: What is a Partnership? Types of Partnership Firms – General, Limited, LLP Profit & Loss Appropriation Account – Format & Explanation Partner’s Capital Account – Fixed vs. Fluctuating Method Journal Entries, Practical Questions & Concept Clarity Accounting for Partnership Firm – Basic Concepts Get CUET-ready with this power-packed session on Partnership Accounting, specially designed for CUET 2026 Commerce aspirants and Class 12 Accountancy students. In this video, Tejpal Arya Sir explains the most important concepts in a simple and strategic way – exactly how CUET wants you to learn. Why Watch This for CUET 2026? Based on the latest CUET (UG) Commerce syllabus Helps you build conceptual clarity + speed Includes MCQ-style understanding + logical flow Explained with practical examples and exam hacks Aligned with Class 12 CBSE/BSEB board exams Learn from the Best at Sukrishna IQ Minds Online and Offline CUET Classes Test Series, Study Material, Daily Practice Questions Backup Classes, Mock Tests, Doubt Solving Sessions Live and Recorded Lectures for Anytime Learning New CUET 2026 Batch Starting Soon Limited Seats | Expert Faculty | CUET-Focused Preparation Call Now to Reserve Your Seat: +91-8084696222 Website: https://sukrishnaiqminds.com Offline Centre: 3rd Floor, Surya Crystal, Boring Road, Patna-1 🎯 What You’ll Learn in This Video: Introduction to Partnership Accounting ➤ Importance for CUET 2026 & Class 12 Boards Meaning & Features of Partnership Firm ➤ As per Indian Partnership Act, 1932 Partnership Deed Explained ➤ Essential clauses & importance of a written deed Capital Accounts of Partners ➤ Fixed vs Fluctuating Method (Concept & Format) Profit & Loss Appropriation Account ➤ Format, Items Included, and Calculation Tricks Interest on Capital ➤ Rules, Examples & Journal Entries Interest on Drawings ➤ Calculation based on time and method Partner’s Salary & Commission ➤ Conditions, treatment & adjustments Admission of a New Partner ➤ Impact on profit-sharing ratio and capital Retirement/Death of a Partner ➤ Adjustments in capital, goodwill & settlement Revaluation of Assets & Liabilities ➤ Revaluation A/c format, journal entries & balance sheet effects Past Adjustments ➤ Rectifying previous year’s errors among partners MCQ Tips & Exam Strategy ➤ CUET-style questions and Board exam readiness Conclusion & Practice Advice ➤ How to prepare better using this video Subscribe now for more CUET-focused content from India’s top educators.
