Partnership accounts

A partnership produces three linked financial statements. The appropriation account shows how the business splits its pr

Partnership accounts

Partnership accounts

Partnerships divide profits between partners using several agreed adjustments. You need to calculate each adjustment cor

Partnership accounts

Partnership accounts

Partners keep two personal accounts each: a capital account for permanent investment and a current account for ongoing t

Partnership accounts

Partnership accounts

When a partner leaves or joins a partnership, the accounts must be adjusted to reflect the change. This involves revalui

Partnership accounts

Partnership accounts

Dissolution means closing down a partnership entirely. AQA will never ask you exam questions about this process.

Partnership accounts