partners loan a/c
This query is : Resolved
15 September 2010
What can be the treatmet of partners loan a/c at the time of dissolution of partnership firm in various cases.
21 September 2010
Hi Prem, at the time of dissolution, after payment of all outside liabilities, internal liabilities i.e. partners' loans are paid before repayment of capital. If more than 1 partner has given loan to the firm then it will be repaid in the ratio of outstanding loan balances.
Regards, CA Shakuntala Chhangani
Regards, CA Shakuntala Chhangani
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