LLP accounts
This query is : Resolved
13 December 2021
LLP is having Loss which is debited to Partners Current Accounts
Partners have also given loan to LLP
My question is in Balance sheet of LLP Loan from Partners should be shown under Unsecured Loans or to be shown in Partners Current Accounts ?
Partners have also given loan to LLP
My question is in Balance sheet of LLP Loan from Partners should be shown under Unsecured Loans or to be shown in Partners Current Accounts ?
13 December 2021
Show it under unsecured loan.
LLP can take loan or deposits from its partners as the same is permitted under section 66 of LLP act.
LLP can take loan or deposits from its partners as the same is permitted under section 66 of LLP act.
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