Ayman Hussain

Editor, CommerceNinjas

I am the guy behind CommerceNinjas. I am a huge football fan and I bleed Real Madrid. I am also a lot into comics (especially DC), PC Gaming and anything indie in general .

Past Adjustments : Meaning and How to solve Questions

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. When a Single Adjustment entry is passed for Past AdjustmentsSteps to pass Adjusting Journal EntryFormat of Adjustment TablePast Adjustment ExampleWhen Separate...

read more

Interest on Loan (Meaning and Accounting Treatment)

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. It includes two types which are discussed below Interest on Loan by Partner to firm If a partner advances a loan to the firm, he is entitled to receive interest at...

read more

Rent Paid to a Partner (Meaning, Treatment and Question)

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. It is a charge against profits and not an appropriation out of profits. It is debited to profit and loss account and credited to partner's current accounts (in case...

read more

Salary Or Commission To A Partner (Meaning & Treatment)

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. Salary or commission to a partner is to be allowed only if the partnership agreement provides for the same. Salary or commission to a partner is an appropriation...

read more

Interest On Drawings ( All Methods Covered )

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. The amount withdrawn by partners in cash or in kind for their personal use is termed as drawings. And the interest charged on that drawing is known as Interest on...

read more

Fixed Capital Method vs Fluctuating Capital Method

This topic is a part of the UNIT Fundamentals of Partnership Class 12 according to the CBSE curriculum. 1/Fixed Capital MethodFormat of Accounts: Maintained under Fixed Capital Method2/Fluctuating Capital MethodFormat of Account maintained under fluctuating Capital...

read more