If a partnership firm incurres loss in current year what is the treatment in accounts (i.E) their is 2 partners sharing 50-50 & incurring loss in business Rs. 38500/-. how it is accounted
Menu
treatment of losses in partnership firm
Replies (2)
1) P&L Appropriation A/c Dr 38500
To P& L A/c (Net Loss) 38500
2) Partner' Current A/c....Dr 38500
To P&L Appropriation A/c 38500..
1) P&L Appropriation A/c Dr 38500
To P& L A/c (Net Loss) 38500
2) Partner' Current A/c....Dr 38500
(In their PSR)
To P&L Appropriation A/c 38500..
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
