TRENDING ACCOUNTANCY CHAPTERWISE VIDEOS

 PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=0sROpxSwIrY  

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=vVJyKoKeK9M 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=5ysRWvvcXSw  

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=ebdr-7XUTQM&pp=0gcJCXwKAYcqIYzv 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=9zKQTRk4t74 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=DSTgUSUAyf4 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=ym8xFObLnpg 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=dLmuWQN8It4 

PARTNERSHIP FUNDAMENTALS  

https://www.youtube.com/watch?v=2IdcS73San4 

ADMISSION OF A PARTNER 

https://www.youtube.com/watch?v=CgrwOFzrb8U 

ADMISSION OF A PARTNER

https://www.youtube.com/watch?v=yDtCkI7ftxs  

ADMISSION OF A PARTNER

https://www.youtube.com/watch?v=8cZibgm8f-M  

ADMISSION OF A PARTNER

https://www.youtube.com/watch?v=m2pURayXSmU  

RETIREMENT AND DEATH OF A PARTNER

https://www.youtube.com/watch?v=SuvzdVAJ524  

RETIREMENT AND DEATH OF A PARTNER

https://www.youtube.com/watch?v=G_91FrjdVLE  

 RETIREMENT AND DEATH OF A PARTNER

https://www.youtube.com/watch?v=iBtQJ_-ZM90  

RETIREMENT AND DEATH OF A PARTNER

https://www.youtube.com/watch?v=9CWughk9pQQ  

DISSOLUTION OF PARTNERSHIP 

https://www.youtube.com/watch?v=kUaVYCSD6qo  

DISSOLUTION OF PARTNERSHIP 

https://www.youtube.com/watch?v=cmGZBHut240  

ACCOUNTING FOR SHARE CAPITAL 

https://www.youtube.com/watch?v=fmQ4D578zBQ  

ACCOUNTING FOR SHARE CAPITAL

https://www.youtube.com/watch?v=eaSnGH8FUYM   

ACCOUNTING FOR SHARE CAPITAL

https://www.youtube.com/watch?v=SXXALdWz83g  

ACCOUNTING FOR SHARE CAPITAL

https://www.youtube.com/watch?v=n0p_4mooV8Q  

ACCOUNTING FOR ISSUE OF DEBENTURE 

https://www.youtube.com/watch?v=JZJvWpoGFhA 

ACCOUNTING FOR ISSUE OF DEBENTURE

https://www.youtube.com/watch?v=FAm8zrGATp4  

FINANCIAL STATEMENTS OF A COMPANY 

https://www.youtube.com/watch?v=YUviRvQpy-E  

FINANCIAL STATEMENTS OF A COMPANY

https://www.youtube.com/watch?v=y7BJuCFjCcw  

FINANCIAL STATEMENTS OF A COMPANY

https://www.youtube.com/watch?v=_Z6bgxFY3ZM  

FINANCIAL STATEMENTS OF A COMPANY

https://www.youtube.com/watch?v=qbt5s4uuyys   

ANALYSIS OF FINANCIAL STATEMENTS OF A COMPANY

https://www.youtube.com/watch?v=ddLKNLYMdnY  

ANALYSIS OF FINANCIAL STATEMENTS OF A COMPANY

https://www.youtube.com/watch?v=FIgpHe6-g-M  

ACCOUNTING RATIO 

https://www.youtube.com/watch?v=dMON8CsbPM0  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=9OcMSQpWbqQ  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=XZ__LVOIZII  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=QBPbsXbiBZA  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=pcLJURZo33Y  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=b97s-epu17g  

ACCOUNTING RATIO

https://www.youtube.com/watch?v=hR1OQRXEVoA  

CASH FLOW STATEMENT 

https://www.youtube.com/watch?v=jYz8YIl4MuE  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=B9XhA4GKKyU   

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=7fa8JpcoINE   

CASH FLOW STATEMENT 

https://www.youtube.com/watch?v=C3wsJ-rimUg  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=YgD2LOnPFSs  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=uPsp1pC6sUI  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=urmfCJAFVgE  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=BrA0UT7hFCI  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=kUn0rrAPrnU  

CASH FLOW STATEMENT

https://www.youtube.com/watch?v=7fa8JpcoINE  

QUICK REVISION VIDEOS

PART – 1 https://www.youtube.com/watch?v=UBxxX7ADOe4&t=2s  

PART – 2 https://www.youtube.com/watch?v=-M7J3jnE8JI  

COMMERCE NOTES 

https://drive.google.com/drive/folders/1S347znwmqrT5T7kAc1fvPyMAB0DKNbj7?usp=drive_link  

PREVIOUS YEAR QP & MS

Previous five years board exam questions with solutions COMMERCE SUBJECTS - ACC, BS, ECO

https://drive.google.com/drive/folders/1PiMiLaEtF5NzrYWfCRm-CwOkLg4dCzry?usp=drive_link  

COMMERCE QUESTION BANK 

https://drive.google.com/drive/folders/14lgOH3uyPGcwM4WWh1UT93gWJLBeHLop?usp=drive_link  

WORKSHEETS 

https://drive.google.com/drive/folders/19D1mg_Gfu7_Ty4pDW_IBsGdjp1uENGDS?usp=drive_link  

COMMERCE PPT

https://drive.google.com/drive/folders/1XhytHE3rbTDnd8xW5EegWNEkux3ItHYe?usp=drive_link  

 

 

 

EXAM MEMORY TRICK - COMMON JOURNAL ENTRIES FOR DISSOLUTION - PREPARED BY Dr.PRASANTH VENPAKAL

 COMMON JOURNAL ENTRIES FOR DISSOLUTION

1. REALISATION ACCOUNT

(A) Transfer of Assets to Realisation

Realisation A/c Dr

      To Sundry Assets A/c

(B) Transfer of Liabilities to Realisation

Sundry Liabilities A/c Dr

      To Realisation A/c

(C) Sale of Assets for Cash/Bank

Cash/Bank A/c Dr

      To Realisation A/c

(D) Asset taken over by Partner

Partner’s Capital A/c Dr

      To Realisation A/c

(E) Unrecorded asset realised

Cash/Bank A/c Dr

      To Realisation A/c

(F) Unrecorded asset taken by partner

Partner’s Capital A/c Dr

      To Realisation A/c

(G) Payment of Liabilities

Realisation A/c Dr

      To Cash/Bank A/c

(H) Creditor takes asset (no cash involved)

👉 No Entry (already transferred to Realisation)

(I) Realisation Expenses paid by firm

Realisation A/c Dr

      To Cash/Bank A/c

(J) Realisation Expenses paid by partner

Realisation A/c Dr

      To Partner’s Capital A/c

(K) Partner paid expenses on behalf of firm

Realisation A/c Dr

      To Partner’s Capital A/c

(L) Commission/Remuneration to partner for dissolution work

Realisation A/c Dr

      To Partner’s Capital A/c

(M) Loss on Realisation

Partners’ Capital A/c Dr

      To Realisation A/c

(N) Profit on Realisation

Realisation A/c Dr

      To Partners’ Capital A/c

 2. PARTNER’S CAPITAL ACCOUNT

(A) Asset taken over

Partner’s Capital A/c Dr

      To Realisation A/c

(B) Realisation expenses borne by partner

Realisation A/c Dr

      To Partner’s Capital A/c

(C) Expenses paid by firm on behalf of partner

Partner’s Capital A/c Dr

      To Bank A/c

 

(D) Distribution of Profit on Realisation

Realisation A/c Dr

      To Partners’ Capital A/c (ratio)

(E) Distribution of Loss on Realisation

Partners’ Capital A/c Dr (ratio)

      To Realisation A/c

(F) Undistributed P&L balance (loss)

Partners’ Capital A/c Dr

      To Profit & Loss A/c

(G) Undistributed P&L balance (profit)

Profit & Loss A/c Dr

      To Partners’ Capital A/c

(H) Final payment to partners

Partner’s Capital A/c Dr

      To Cash/Bank A/c

(I) Deficiency brought by partner

Cash/Bank A/c Dr

      To Partner’s Capital A/c

3. PARTNER’S LOAN ACCOUNT

(A) Loan repaid to partner

Partner’s Loan A/c Dr

      To Bank A/c

(B) Interest/extra payment on loan

Realisation A/c Dr

      To Bank A/c

(C) Loan paid by partner on behalf of firm

Realisation A/c Dr

      To Partner’s Capital A/c

4. BANK / CASH ACCOUNT

(A) Assets realised

Bank A/c Dr

      To Realisation A/c

(B) Liabilities paid

Realisation A/c Dr

      To Bank A/c

(C) Recovery of bad debts previously written off

Bank A/c Dr

      To Realisation A/c

(D) Partner brings cash

Bank A/c Dr

      To Partner’s Capital A/c

(E) Payment to partners (final settlement)

Partner’s Capital A/c Dr

      To Bank A/c

🎯 EXAM MEMORY TRICK (Very Useful)

Rule of Realisation:

Situation	Debit	Credit
Asset realised	Bank	Realisation
Liability paid	Realisation	Bank
Expense	Realisation	Bank
Partner benefit	Partner Capital	Realisation
Profit	Realisation	Partner Capital
Loss	Partner Capital	Realisation

FLOWCHART OF DISSOLUTION ENTRIES

Start

   ↓

Transfer Assets → Realisation

Transfer Liabilities → Realisation

   ↓

Sell assets / Taken by partners

Pay liabilities & expenses

   ↓

Find Profit or Loss on Realisation

   ↓

Transfer to Capital Accounts

   ↓

Settle Partner Loans

   ↓

Pay Capitals through Bank

   ↓

Firm Closed