hi friends ... i m a student of cpt n i hv some problems in partnership ac... when we give salary to partners or intrest to partners, we do it thru pl appropriation ac.... but no effect is given to cash...why so ??.... pls explain/correct me.... pls reply
Menu
Partnership
Replies (3)
normally parter salary & interest is provided in books at year end & in deed salary & interest is mentioned, it is not necessary partner will compulsary withdarw the aforesaid.normally salary,int is credited to partner a/c then partner withdraw from capitl a @ c as when he need.
ok it means then it will be a case of drawings.........
Partner can draw it as a cash or finished goods or raw material
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
