ZIMSEC A-Level Accounting
1.11Further considerations in Partnership Accounting
Further considerations in Partnership Accounting in ZIMSEC A-Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic134 practice questions6 lessons
Overview
Questions are not set on piecemeal realisation or the rule in Garner v Murray.
Learning objectives
What the syllabus expects you to be able to do.
- 1.11.1Explain the reasons for partnership changes and account for goodwill and revaluation of assets.
- 1.11.2Prepare journal entries, revaluation accounts and capital and current accounts to show the effects of changes in a partnership, and the statement of financial position after the change.
- 1.11.3Prepare realisation accounts and ledger accounts to close the books of a partnership on dissolution.
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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