Profit or loss transferred between partners

This query is : Resolved 
Quick Summary
In a partnership, any losses incurred are distributed among the partners according to their agreed-upon sharing ratio, just like profits. These losses can also be carried forward to offset future income, ensuring a fair and manageable accounting process for the business.

Profile Image

Profile Image

(Querist)
26 February 2022 Any loss in partnership firm will be distributed to partner's capital account just like a profit . is it true.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
26 February 2022 False ..
Profile Image

Daya

Profile Image

Daya (Querist)
26 February 2022 i mean that Loss should be distributed among partners Partner sharing ratio. also.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
26 February 2022 The loss is carried forwarded for set off against future incomes...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Naresh DhawanNaresh DhawanPro Member Ravinder ReddyRavinder ReddyPro Member Vimlesh kumarVimlesh kumarPro Member Dilip Dilip Pro Member Mahasweta DebMahasweta Deb
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category