Important Adjustments l Partnership Final Account l HSC l Lecture 4

Six important adjustments of Partnership Final Account and Final Account of Sole Trading concern
1. Closing Stock
2. Depreciation / Assets Written off
3. Outstanding Expenses / Expenses Payable / Expenses due but not paid
4. Expenses paid in advance / Prepaid Expenses
5. Outstanding Income / Income receivable / Income due but not received
6. Advance Income / Pre-received Income

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