🎯LIVE I CLASS 12 ACCOUNTANCY | DEATH OF A PARTNER | TIME BASIS & SALES BASIS | DAY 3 | CBSE 2027

📚 *CLASS 12 ACCOUNTANCY | DEATH OF A PARTNER | TIME BASIS & SALES BASIS | DAY 3 | CBSE 2027* Welcome to *Day 3 of the Class 12 CBSE Accountancy LIVE Preparation Series!* 🔥 In this session, we continue our detailed preparation for the important chapter **“Death of a Partner”**, with a focused discussion on **Time Basis and Sales Basis**. This LIVE lecture is designed to help Class 12 Commerce students understand the calculation of profit up to the date of death of a partner, learn how different bases are applied, and develop the confidence needed to solve partnership-accounting questions in examinations. If you are preparing for **CBSE 2027**, this session is a great opportunity to strengthen your concepts, practice numerical questions and revise important exam-oriented applications. --- 🔥 WHAT WILL YOU LEARN IN DAY 3? In this lecture, we will focus on the practical application of: ✅ *Time Basis* ✅ *Sales Basis* ✅ Time Ratio ✅ Sales Ratio ✅ Profit estimation ✅ Profit up to the date of death ✅ Deceased partner's share of profit ✅ Working notes and calculation steps ✅ Partnership-accounting adjustments ✅ Exam-oriented numerical questions ✅ Common mistakes and how to avoid them The objective is to make the entire calculation process **simple, logical and easy to remember**. Instead of just memorising formulas, we will understand the reasoning behind each step so that you can confidently approach different types of questions. --- 🧠 UNDERSTANDING TIME BASIS When profit is estimated using the **Time Basis**, the relevant profit is calculated according to the proportion of time for which the partner was associated with the business during the accounting period. The important steps include: *Identify the relevant period → Determine the time ratio → Calculate estimated profit → Determine the deceased partner's share* Understanding the timeline correctly is extremely important because even a small mistake in identifying the period can affect the final calculation. We will work through the concept step by step and connect it with practical examination-style questions. --- 📊 UNDERSTANDING SALES BASIS The *Sales Basis* approach involves estimating profit with reference to the sales generated during the relevant period. Here, students need to carefully understand: 📌 Total sales 📌 Sales for the relevant period 📌 Sales ratio 📌 Estimated profit 📌 Partner's profit-sharing ratio The key is to identify exactly what information the question provides and then apply the appropriate basis. By practicing these calculations, you can become much more comfortable with questions involving profit estimation up to the date of death. --- 📖 CHAPTER: DEATH OF A PARTNER *Death of a Partner* is an important topic within Partnership Accounts and requires students to understand several adjustments and calculations. When a partner dies, the amount due to the deceased partner may include adjustments related to: ✔ Share of profit up to the date of death ✔ Goodwill ✔ Revaluation of assets and liabilities ✔ Reserves and accumulated profits or losses ✔ Interest on capital, where applicable ✔ Salary or commission, where applicable ✔ Drawings and other adjustments ✔ Settlement of the amount due to the deceased partner In this session, our primary focus remains on understanding the **Time Basis and Sales Basis methods used for estimating profit**. --- 🎯 EXAM-FOCUSED ACCOUNTANCY PREPARATION The thumbnail highlights *“EXAM-FOCUSED CONCEPTS”* because this lecture is designed around practical exam preparation. For Class 12 Accountancy, simply knowing the definition of a concept is not enough. You should also be able to: *Understand → Identify → Calculate → Present → Verify* When solving a numerical question, carefully read every piece of information and determine which figures are actually required. Pay particular attention to: 🔹 Dates and accounting periods 🔹 Time ratios 🔹 Sales figures 🔹 Profit estimates 🔹 Profit-sharing ratios 🔹 Working notes 🔹 Final adjustment A well-organised solution can help you avoid unnecessary mistakes and present your answer more effectively. --- ✍️ HOW TO STUDY WITH THIS LIVE CLASS Keep your *Accountancy notebook, textbook and calculator* ready before the lecture. Do not just watch the teacher solve the questions. Whenever a numerical problem appears, **pause and try to solve it yourself first**. Follow this approach: *1. Read the question carefully* *2. Identify whether Time Basis or Sales Basis is required* *3. Extract the relevant figures* *4. Calculate the appropriate ratio* *5. Estimate the profit* *6. Calculate the deceased partner's share* *7. Prepare the required working notes* *8. Check the final answer* This active-learning approach can make your revision much more effective. --- 🚀 DAY 3 OF THE ACCOUNTANCY SERIES This LIVE session is part of a structured **Day-by-Day Class 12 Accountancy