Cambridge AS & A Level Accounting
3.1.2Partnerships
Partnerships in Cambridge AS & A Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic134 practice questions6 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 3.1.2.1Explain goodwill and distinguish purchased from inherent goodwill.
- 3.1.2.2Prepare partners' capital and current accounts to record goodwill and revaluation on a change in the profit-sharing ratio, the introduction of a partner, the retirement of a partner and dissolution.
- 3.1.2.3Prepare the appropriation account, statement of profit or loss and statement of financial position including changes part-way through a year, and realisation and revaluation accounts.
Lessons
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Change of ratio and admission of a new partner
65 min
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Dissolution of a partnership: the realisation account
50 min
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Goodwill in partnership accounts
55 min
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Partnership changes part-way through the accounting year
55 min
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Retirement or death of a partner
65 min
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Revaluation of assets on a change in partnership
50 min
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Sample question
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