This week in class and Announcements

• Numericals related to various adjustments regarding admission of a partner were solved in the class.
• Students were told how to make capital accounts of the partners alongwith Balance sheet after admission of a partner.
• Capital adjustment at the time of admission was also made clear with the help of  numericals.
• Complete your registers and submit it for checking on Monday.

This week in class

• Topic :Admission of a partner in the partnership firm introduced.
• Accounting treatment regarding:
• change in profit sharing ratio 
• treatment of goodwill including various cases
• treatment of General reserves and undistributed profits
• Preparation of Revaluation account was discussed in the class and related numericals were also solved in the class.

This week in class

• Valuation of goodwill was done .
• Various methods of valuation of goodwill was discussed in the class.
• Numericals related to the topic was solved in the class.
• Effect of change in profit sharing ratio with respect to Sacrificing ratio and Gaining ratio, treatment of goodwill, treatment of undistributed profits and reserves, treatment of Workmen compensation reserve and investment fluctuation reserve was discussed in the class.
• Many numericals related to the topic were also solved.