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Net loss

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(Querist)
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
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
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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