Surya Kumar's Blog – February 2014 Archive (1)
Accounts and Allocation of Profits Partners
Capital and current
The partnership agreement provides a fixed amount of capital to be contributed by each partner amount , it is preferable that the amounts therefore to be credited to the respective capital accounts of the partners, and to the drawings partners , wages, interest on capital and profit shares to be treated in the current account.
This allows a clear distinction to be made in the accounts between fixed capital and profits not drawn .
Partners' loan…
ContinueAdded by Surya Kumar on February 26, 2014 at 12:07pm — No Comments
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