Withdrawal from partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2012
Hi All,
My client is running partnership firm , and two partners invested 2.5 and 2.5 lacks in the beginning,
Now they keep withdrawing money from business ,
So should i reduce thier capital or open a current a/c and adjust there ?
My client is running partnership firm , and two partners invested 2.5 and 2.5 lacks in the beginning,
Now they keep withdrawing money from business ,
So should i reduce thier capital or open a current a/c and adjust there ?
02 September 2012
Pl go through the terms of the partnership deed and if it says maintenance of fixed capital and current account separately , then follow that in the books of accounts also.
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