Drawings in partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2015
Is there any limit on the drawings of partners in partnership firm. Because of these over drawings capital balances are showing debit balances.
06 July 2015
If it is mentioned in capital separately then the partners r bound by it. But if there is no such agreement then a partner can't withdraw more than his/her/its capital in the firm.
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