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Garner vs murray
please help me.
in garner vs murray rule the capital ratio is decided after all the adjustments excluding realisation profit/loss in fluctuating capital and NO adjustments in fixed capital. adjustments like - reserves, goodwill, p/l a/c, drawing, interest on drawing and interest on capital
is this correct? please confirm someone i am getting confused.
Replies (3)
Opening capital, reserve and capital reserve if any should be added to know the capital ratio.
So no deduction like drawings and interest on drawings?
Reserves, drawings are adjusted in case of fluctuating capital. Not sure about interest on drawings.
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