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
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Partnership
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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
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