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Can a partner
can a partner withdraw his salary/commission
Replies (12)
Yes why not..
In cash ??
Yes...
And what its journal entries ??
Salary Dr
To partner capital Cr.
Partner Capital Dr.
To cash Cr.
To partner capital Cr.
Partner Capital Dr.
To cash Cr.
In case of fixed capital method does use current account for that ???
Obviously there's no doubt in this. 🙂
Does interest on drawing is charged on that ?
Yes it will be charged
On withdraw partner salary ??
Yes...
Why? ??
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