Net loss
This query is : Resolved
13 May 2014
Dear Sir,
Firm Name: Patna Book Store(Partnership form)
Two partner include total Capital Rs 11000/-
i making Pl account there show Net Loss: Rs 13000/- when i finalize above account there i adjust loss in capital account, Now capital show Rs 2000/- Negative
pl advise me capital show negative is correct or not ? where is loss adjust ?
pl sir advice
Firm Name: Patna Book Store(Partnership form)
Two partner include total Capital Rs 11000/-
i making Pl account there show Net Loss: Rs 13000/- when i finalize above account there i adjust loss in capital account, Now capital show Rs 2000/- Negative
pl advise me capital show negative is correct or not ? where is loss adjust ?
pl sir advice
13 May 2014
it is okk to show negative capital. However, it is advisable to not touch the capital account and accumulate the loss on the debit/asset side.
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