4 Points
Posted on 24 June 2016
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.