Jewellery purchase for partner in partner ship firm
This query is : Resolved
20 February 2022
Sir,
A partner ship firm working two partners.purchases of jewellery value rs:4 lacs name in partner name(invoice partner name) and payment through partner ship firm current account transfer.
Question:
1.above purchase of jewellery transactions treatment in firm and partner account show procedure.
2.purchases value loan form firm show accepted in it act.
A partner ship firm working two partners.purchases of jewellery value rs:4 lacs name in partner name(invoice partner name) and payment through partner ship firm current account transfer.
Question:
1.above purchase of jewellery transactions treatment in firm and partner account show procedure.
2.purchases value loan form firm show accepted in it act.
20 February 2022
1 Show it in partner's capital account.
2 Not accepted only capital account debit.
2 Not accepted only capital account debit.
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