ZIMSEC O-Level Principles of Accounting
19Partnership Formation: End of Year Financial Statements
Partnership Formation: End of Year Financial Statements in ZIMSEC O-Level Principles of Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Topic59 practice questions3 lessons
Overview
Form 4: formation, advantages and disadvantages, income statements, appropriation accounts, capital and current accounts and statements of financial position.
Learning objectives
What the syllabus expects you to be able to do.
- 19.1Form 4: define a partnership, state reasons for forming one and outline the importance and contents of a partnership agreement.
- 19.2Form 4: prepare appropriation accounts.
- 19.3Form 4: prepare current and capital accounts and statements of financial position showing current accounts within or outside the statement.
Lessons
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Partners' capital and current accounts
40 min
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Partnerships: formation and the partnership agreement
30 min
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The partnership appropriation account
40 min
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Sample question
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