1)Is a retiring partner entitled to the share of partnership firm's FD maturity amount.
2)How to treat the maturity amount of firm's FD maturity amount. i.e.debit and credit of account.
You can credit his share to his capital account and pay off the balance in his capital A/c on retirement.
T R SOOD & CO
New Delhi
CA Inter
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Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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CAclubindia
