Menu
Deficiency borne by Partner A
what is the journal entries for deficiency borne by Partner A because of guarantee given to C by A
Replies (1)
The deficiency is debited to A
Distribution of profits
Dr. P&L 15000
Cr A 10000
Cr C 5000
The loss of C 5000
Dr C 5000
Cr PL 5000
This is the usual method. When you have a deficienacy of 5000 but guaranteed by A to cover your loss
Dr. A 5000
Cr C 5000
These are capital accounts.
Recent Topics :
- Sec 8 company sec 12ab reg
- AIS Password: How to Open Your AIS PDF?
- Interview Questions
- ITR Filing Last Date 2026
- Tds - filing Conso File for tax year 2026-27
- ITR-3 Filing For AY 2026-27 - Tips
- Capital Gain on sale of Depreciated Factory Gala
- Interesting Observation from a Recent Income Tax S
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
Related Topics :
CAclubindia
