Aaah!! Panicking!! Partnership Help Needed!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hello everyone!!

I am having a complete panic as I have my FRA sim on Thursday (29/03/07).

I am stuck on partnerships. I missed the lesson where this was taught due to a migraine and now my lecturer won't go through it with me, and I am getting confused just looking at the book!!

Can anyone help me and give me some guidance please??

Thank you :?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Aaah!! Panicking!! Partnership Help Needed!!
    immense wrote:
    Hello everyone!!

    I am having a complete panic as I have my FRA sim on Thursday (29/03/07).

    I am stuck on partnerships. I missed the lesson where this was taught due to a migraine and now my lecturer won't go through it with me, and I am getting confused just looking at the book!!

    Can anyone help me and give me some guidance please??

    Thank you :?

    Can anybody help please?!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Aaah!! Panicking!! Partnership Help Needed!!

    You may have to be a little more specific as to what you want to know as partnerships cover a wide range of areas which may not be practical to go through on a thread. I think your tutor may be being a bit unreasonable not to assist you as that are what they are paid to do.

    Good luck anyway for Thursday.

    Regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Aaah!! Panicking!! Partnership Help Needed!!

    Hi Steve

    I agree with you in regards to my tutor! My class does have an issue and we are putting in a formal complaint!!

    the exam wasn't too bad in the end!!

    I wasn't specific on what I needed to know as I was at a blank with the whole concept of partnerships!! I just read and re read my text books in the end and some of it seemed to go in!! I shall find out how well when I get my Sim results in a few weeks!!

    Thanks again

    Tara
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Aaah!! Panicking!! Partnership Help Needed!!

    Hello,
    A partnership Act of 1890 defines a partnership as a relation which subsists betn persons carrying on a business in with a view of profit.

    For example a, b, and c are in a partnership operating a retail shoe shop. the following list of balances was extacted from their leger at their year end for instance 2003.

    You main be asked to draft a profit and loss account for the years including an appropraition account to produce the partners current account on the year and then a balance sheet.
    Hope this is of use to you.

    Can you asked a specific question on what exactly you don't understand about partnership? it could be capital account, profit share and salaries.
    Thank you.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Aaah!! Panicking!! Partnership Help Needed!!

    What happens if all the partners decides to leave the company. Do we have to prepare a realisation account.

Categories

Privacy Policy