Partner's remuneration
This query is : Resolved
28 June 2013
A & B are the partners of partnership firm, they are drawing from firm Rs. 6000/- each as remuneration, for which maintaining P/L account, P/L App. A/c only.
Journal Entries done by me:
Partners remuneration a/c (A/B)Dr.6000
to Bank account 6000
Profit & Loss Appropriation Dr. 6000
to Partners remuneration a/c (A/B)6000
Partners remuneration a/c (A/B 0Dr.6000
to A's Capital/ B's Capital a/c 6000
Journal Entries done by me:
Partners remuneration a/c (A/B)Dr.6000
to Bank account 6000
Profit & Loss Appropriation Dr. 6000
to Partners remuneration a/c (A/B)6000
Partners remuneration a/c (A/B 0Dr.6000
to A's Capital/ B's Capital a/c 6000
28 June 2013
Your query is not clear.
.
The last two entries may be done at the year end when appropriation account is made.
.
.
The last two entries may be done at the year end when appropriation account is made.
.
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