Partnership Accounts
LECTURE 1 PARTNERSHIP ACCOUNTS
1.1 LECTURE OUTLINE
1.1 The provision of the Partnership Act
1.1.1 Formation/ membership limits
1.1.2 Rights of partners
1.1.3 Obligations of partners
1.1.4 Dissolutions of partnerships Business/ Firm
1.1.5 Privileges of partners 1.2 Realignments
1.2.1 Treatment of goodwill in partnership Admission of new partners
1.2.2 Admission of new partners Retirement of partners
1.2.3 Retirement of partners
1.3 Dissolution of partnerships
1.3.1 Piece-meal Dissolutions of partnerships
1.3.2 All Partners liquid, no loss
1.3.3 All Partners liquid, loss on realization of Assets
1.3.4 Any one Partner Insolvent
1.3.5 Rule of Garner Vs Murray
1.4 Amalgamations of partnerships
1.5 Sale of a Partnership to a limited company
1.6 Conversion of a partnership to a limited liability company
1.1 INTRODUCTION | 1.2 OBJECTIVESAt the end of the lecture the learner should be able to: (i) State the provisions of the partnerships Act Laws of Kenya. (ii) Prepare adjustments in partners’ shareholdings upon admission of new partners, retirement of partners and reallocation of partners’ profit and loss sharing ratios. (iii) Prepare amalgamations of partnerships by preparing accounts for retirement of partnerships combination of partnerships into single new firms. (iv) Prepare accounts for conversion of a partnership into a limited company. (v) Prepare accounts for acquisition of a partnership by another partnership or a limited company. (vi) Prepare distribution schedule in event of a piecemeal distribution. |
1.3 PROVISIONS OF THE PARTNERSHIP ACT-LAWS OF KENYA
This is a preview of the basic issues in Partnership Act Laws of Kenya. You need this background knowledge to enable you to provide necessary advise on fundamental legal issues of formation, operations, reorganisation, conversions and if necessary dissolution of partnerships. For a detailed understanding, please examine the Act itself.
1.4 TREATMENT OF
1.1 LECTURE OUTLINE
1.1 The provision of the Partnership Act
1.1.1 Formation/ membership limits
1.1.2 Rights of partners
1.1.3 Obligations of partners
1.1.4 Dissolutions of partnerships Business/ Firm
1.1.5 Privileges of partners 1.2 Realignments
1.2.1 Treatment of goodwill in partnership Admission of new partners
1.2.2 Admission of new partners Retirement of partners
1.2.3 Retirement of partners
1.3 Dissolution of partnerships
1.3.1 Piece-meal Dissolutions of partnerships
1.3.2 All Partners liquid, no loss
1.3.3 All Partners liquid, loss on realization of Assets
1.3.4 Any one Partner Insolvent
1.3.5 Rule of Garner Vs Murray
1.4 Amalgamations of partnerships
1.5 Sale of a Partnership to a limited company
1.6 Conversion of a partnership to a limited liability company
1.1 INTRODUCTION | 1.2 OBJECTIVESAt the end of the lecture the learner should be able to: (i) State the provisions of the partnerships Act Laws of Kenya. (ii) Prepare adjustments in partners’ shareholdings upon admission of new partners, retirement of partners and reallocation of partners’ profit and loss sharing ratios. (iii) Prepare amalgamations of partnerships by preparing accounts for retirement of partnerships combination of partnerships into single new firms. (iv) Prepare accounts for conversion of a partnership into a limited company. (v) Prepare accounts for acquisition of a partnership by another partnership or a limited company. (vi) Prepare distribution schedule in event of a piecemeal distribution. |
1.3 PROVISIONS OF THE PARTNERSHIP ACT-LAWS OF KENYA
This is a preview of the basic issues in Partnership Act Laws of Kenya. You need this background knowledge to enable you to provide necessary advise on fundamental legal issues of formation, operations, reorganisation, conversions and if necessary dissolution of partnerships. For a detailed understanding, please examine the Act itself.
1.4 TREATMENT OF