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Transfer of loss in profit and loss appropriation a/c
In case of Partnership firm, if there is loss in Profit and Loss A/c. Can we transfer that loss to Profit and Loss Appropriation A/c and distribute that loss to partners?
OR
We must distribute the loss among partners in Profit and Loss A/c only?
Please explain in detail. Whether losses can be distributed in Profit and Loss Appropriation A/c or not.
Replies (1)
Yes, we can distribute the profit or losses among partners in P&L appropriation account.
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