hi,
i need explation for entries in dissolution of a partnership firm--
when realisation expenses are paid by a partner. pls tell. thnx!
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Partnership firm dissolution
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| Originally posted by : sjs | ||
 |
hi, i need explation for entries in dissolution of a partnership firm-- when realisation expenses are paid by a partner. pls tell. thnx! |
 |
When paid by a partner on firms behalf:
Realisation A/c ..... Dr.
To Partner’s Capital A/c
.
When paid by a partner who has to bear such expenses:
No Entry
.
When paid by the firm on behalf of a partner who has to bear such expenses:
Partner’s Capital A/c ..... Dr.
To Bank A/c
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