Partnership accounting

This query is : Resolved

Gopal Sengar (Querist)
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24 December 2014 Hello Sir/Mam

Intt. on Capital will be transfer in Capital Account or Partner Loan Account

and Salary to Partner could be transferred in Capital Account?

and Rent is Allowed to a Partner from Partnership Firm

Thanks for Response

Ketan Shah

Ketan Shah (Expert)
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24 December 2014 It will depend on the method of accounting adopted i.e. in case of fixed and floating capital a/c recurring items like interest, remuneration, etc shall be transferred to floating capital a/c.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 December 2014 1. on partners capital account
2. same as above
3.means its an exp to firm then profit and loss to firm debit and credit partners cap a/c

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