Chapter 3 of 13
Concept Maps
Final Accounts (Financial Statements) of Partnership Firm — Concept Maps
Gujarat Board · Class 12 · Elements of Accounts
4 concept maps of Final Accounts (Financial Statements) of Partnership Firm for Gujarat Board Class 12 Elements of Accounts, each also written out as.
3 formulas & key relations5 concepts
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4 Concept Maps
Final Accounts of Partnership Firm — Complete Overview
The map in words
- root（（Final Accounts
- Partnership Firm））
- Trading Account
- Debit Side
- Opening Stock
- Net Purchases
- Direct Expenses
- Production Expenses
- Credit Side
- Net Sales
- Closing Stock
- Result
- Gross Profit
- Gross Loss
- Debit Side
- Profit and Loss Account
- Debit Side
- Gross Loss
- Admin Expenses
- Selling Expenses
- Financial Expenses
- Other Losses
- Credit Side
- Gross Profit
- Other Incomes
- Result
- Net Profit
- Net Loss
- Debit Side
- PL Appropriation Account
- Debit Side
- Interest on Capital
- Partners Salary
- Commission to Partners
- Transfer to Reserve
- Credit Side
- Net Profit
- Interest on Drawings
- Result
- Divisible Profit
- Divisible Loss
- Debit Side
- Partners Accounts
- Capital Account
- Permanent Capital
- Fixed Method
- Current Account
- Working Transactions
- Fixed Method Only
- Capital Account
- Balance Sheet
- Capital and Liabilities
- Partners Capital
- Reserves
- Long Term Loans
- Current Liabilities
- Assets
- Fixed Assets
- Intangible Assets
- Investments
- Current Assets
- Capital and Liabilities
- Trading Account
Final Accounts of Partnership Firm — Complete Overview
The map in words
- root（（Final Accounts
- Partnership Firm））
- Trading Account
- Debit Side
- Opening Stock
- Net Purchases
- Purchase Expenses
- Production Expenses
- Factory Depreciation
- Credit Side
- Net Sales
- Sale of Scrap
- Closing Stock
- Result
- Gross Profit to PL Credit
- Gross Loss to PL Debit
- Debit Side
- Profit and Loss Account
- Debit Side
- Administrative Expenses
- Sales Distribution Expenses
- Financial Expenses
- Other Losses
- Credit Side
- Gross Profit
- Other Incomes
- Result
- Net Profit to Appropriation Credit
- Net Loss to Appropriation Debit
- Debit Side
- PL Appropriation Account
- Debit Side
- Interest on Capital
- Salary to Partners
- Commission to Partners
- General Reserve Transfer
- Divisible Profit
- Credit Side
- Net Profit
- Interest on Drawings
- Interest on Debit Current Ac
- Debit Side
- Capital Accounts
- Fixed Capital
- Opening Balance
- Additional Capital
- Withdrawal of Capital
- Current Accounts
- Drawings
- Interest on Capital
- Salary Bonus Commission
- Profit Loss Share
- Fixed Capital
- Balance Sheet
- Liability Side
- Fixed Capital Accounts
- Current Accounts Credit
- Reserves
- Long Term Loans
- Current Liabilities
- Asset Side
- Fixed Assets
- Investments
- Current Assets
- Current Accounts Debit
- Liability Side
- Trading Account
Complete Chapter Concept Map — Final Accounts of Partnership Firm
The map in words
- root（（Final Accounts
- Partnership Firm））
- Objectives
- Gross Profit or Loss
- Net Profit or Loss
- Divisible Profit or Loss
- Financial Status
- Taxation Purpose
- Trading Account
- Debit Side
- Opening Stock
- Purchases minus Returns
- Purchase Expenses
- Wages
- Carriage Inward
- Freight
- Production Expenses
- Factory Expenses
- Royalty
- Depreciation on Plant
- Credit Side
- Sales minus Returns
- Closing Stock
- Sale of Scrap
- Result
- Gross Profit to P and L
- Gross Loss to P and L
- Debit Side
- Profit and Loss Account
- Debit Side
- Administrative Expenses
- Selling Expenses
- Financial Expenses
- Depreciation on Office Assets
- Bad Debts
- Other Losses
- Credit Side
- Gross Profit
- Interest Received
- Rent Received
- Commission Received
- Other Incomes
- Result
- Net Profit to Appropriation
- Net Loss to Appropriation
- Debit Side
- P and L Appropriation Account
- Debit Side
- Net Loss
- Interest on Capital
- Partners Salary
- Partners Commission
- General Reserve
- Credit Side
- Net Profit
- Interest on Drawings
- Interest on Debit Balance of Current Account
- Result
- Divisible Profit to Capital or Current
- Divisible Loss from Capital or Current
- Debit Side
- Partners Capital Accounts
- Fixed Capital Method
- Opening Balance Credit
- Additional Capital Credit
- Withdrawal Debit
- Closing Balance
- Partners Current Accounts
- Interest on Capital Credit
- Salary and Bonus Credit
- Divisible Profit Credit
- Drawings Debit
- Interest on Drawings Debit
- Credit Balance shown in Liability
- Debit Balance shown in Asset
- Balance Sheet
- Capital and Liabilities
- Fixed Capital Accounts
- Current Accounts Credit Balance
- Reserves
- Non-Current Liabilities
- Current Liabilities
- Assets
- Fixed Assets Tangible
- Fixed Assets Intangible
- Investments
- Current Assets
- Deferred Revenue Expenses
- Capital and Liabilities
- Adjustments
- Closing Stock
- Outstanding Expenses
- Prepaid Expenses
- Receivable Income
- Depreciation
- Bad Debts
- Bad Debts Reserve
- Interest on Capital
- Interest on Drawings
- General Reserve Transfer
- Objectives
Final Accounts (Financial Statements) of Partnership Firm
The map in words
- Final Accounts (Financial Statements) of Partnership Firm
- Trading Account
- Profit and Loss Account
- Profit and Loss Appropriation Account
- Partners Capital Accounts
- Partners Current Accounts
- Balance Sheet
- Adjustments
- Objectives of Final Accounts
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Explore DiagramsFrequently Asked Questions
What are the important topics in Final Accounts (Financial Statements) of Partnership Firm for Gujarat Board Class 12 Elements of Accounts?
Key topics in Final Accounts (Financial Statements) of Partnership Firm include Objectives of Final Accounts of Partnership Firm, Trading Account, Profit and Loss Account, Profit and Loss Appropriation Account. Study these first, then practise questions on each for the Gujarat Board Class 12 board exam.
What do the concept maps for Final Accounts (Financial Statements) of Partnership Firm show?
The 4 maps show how the ideas in Final Accounts (Financial Statements) of Partnership Firm connect: Final Accounts of Partnership Firm — Complete Overview; Final Accounts of Partnership Firm — Complete Overview. Each map is also written out as an outline on this page.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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