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Can a partner

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1359 Points Joined October 2021
can a partner withdraw his salary/commission
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On 12 November 2021 at 21:17 Report
Replies (12)
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Chartered Accountant
24588 Points Joined November 2019
Yes why not..
1 Reply
On 12 November 2021 at 21:27
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1359 Points Joined October 2021
In cash ??
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On 12 November 2021 at 21:28
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CA
10436 Points Joined March 2019
Yes...
1 Reply
On 12 November 2021 at 21:32
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1359 Points Joined October 2021
And what its journal entries ??
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On 12 November 2021 at 21:41
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CA
10436 Points Joined March 2019
Salary Dr
To partner capital Cr.

Partner Capital Dr.
To cash Cr.
2 Reply
On 12 November 2021 at 21:48
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1359 Points Joined October 2021
In case of fixed capital method does use current account for that ???
1 Reply
On 12 November 2021 at 21:53
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CA
10436 Points Joined March 2019
Obviously there's no doubt in this. 🙂
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On 12 November 2021 at 21:59
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1359 Points Joined October 2021
Does interest on drawing is charged on that ?
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On 12 November 2021 at 22:01
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CA
10436 Points Joined March 2019
Yes it will be charged
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On 12 November 2021 at 22:07
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1359 Points Joined October 2021
On withdraw partner salary ??
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On 12 November 2021 at 22:08
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CA
10436 Points Joined March 2019
Yes...
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On 12 November 2021 at 22:10
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1359 Points Joined October 2021
Why? ??
1 Reply
On 12 November 2021 at 22:10

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