When partnership firm loss

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Ramdas Dhumal (Querist)
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31 December 2015 Dear sir/Madam

plz help me, my partnership firm started f.y. 14-15, but first year firm is loss, can all expenses trf to capital a/c

plz sir guide

Ankur Singhal

Ankur Singhal (Expert)
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01 January 2016 Dear
Distribute the loss among partners in the profit sharing ratio.
The loss will ultimately trf to capital account of partners.
It is the correct treatment
Do no trf all expenses to capital A/c.

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