adjustment of FbT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2010
how to adjust fbt with partners capital if Fbt Stand on books as provision & advance
13 February 2010
Instead of sharing between you can pass journal entry because this has to be borne by the firm and then only the profit will be distributed among the partners. However if u want to distribute it among partners than both advances and provision of fbt will be segregated among partners in their profit/loss sharing ratio
13 February 2010
agree,instead of sharing you can pass the JV
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