Whether partners interest can be capitalised
This query is : Resolved
13 July 2012
If i have a partnership firm which has construction business, whether i can capitalise partners interest in capital WIP account?
please help..
and whether it is necessary to charge partners interest in initial years of construction.
please help..
and whether it is necessary to charge partners interest in initial years of construction.
13 July 2012
The "interest clause" in partnership deed may kindly be verified before making any decision.
.
In my view, if the terms of deed allows, you can capitalise interest on partners' capital in WIP.
.
.
In my view, if the terms of deed allows, you can capitalise interest on partners' capital in WIP.
.
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