My firm is patnership trading concrn business unfortunatly my cash balance is -tive so my question is the company how many type gain cash to maka a +tive cash balance
06 September 2011
First of all you should find out how it has gone in negative. Generally when the proper accounting is done it is always positive. If it has gone in negative then the following may be the reasons:- 1) Expenses incurred by partners debited in books but not credit to their account. 2) Journal entry is passed in cash book. 3) The partner have the unaccounted cash and expenses incurred out of that is booked in the regular books of account.
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