Treatment of Goodwill

When a partner leaves the partnership firm either due to his retirement or due to his death, he or is legal representative are entitled to

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Gaining Ratio

When a partner of a partnership firm decides to retire from the firm or when a partner is deceased, the profit sharing rate of the

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Balancing the Accounts

What is the Balancing of Accounts? We know that there are ledger accounts have debit side and credit side.  Both side has few entries. Sometimes

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Journal Proper

Journal Proper is a book of original entry. It records the transactions which cannot be recorded in any special book. This book is also called

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Sales Return Book

Customers might return the goods sold on to them for variety of reasons like defect in the goods, over supply, not right product etc. Sales

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