Atharv Sankliya (1359 Points)
30 October 2021
yasaswi gomes
(My grammar is 💯 good I)
(7296 Points)
Replied 30 October 2021
Incomes and expenses must be reported in the income statement. The profits are apportioned through profit sharing ratio. It is a business expense.
Atharv Sankliya
(1359 Points)
Replied 30 October 2021
yasaswi gomes
(My grammar is 💯 good I)
(7296 Points)
Replied 30 October 2021
No need. There are no partners and no need to distribute profits.
CAclubindia
