Partner drawing
This query is : Resolved
27 November 2016
Hi Good Evening,
A Partnership firm partners purchase land for own house construction. The payment wash made from firm, it is Partners Drawings or what type of accounts head in firm please clarify.
Regards,
A.Sivakumar.
A Partnership firm partners purchase land for own house construction. The payment wash made from firm, it is Partners Drawings or what type of accounts head in firm please clarify.
Regards,
A.Sivakumar.
28 November 2016
Check the partnership deed first regarding the Drawings clause and based on it you can treat else show it under partners capital account debit.
VL
29 November 2016
U must show it as drawings from the Firm in the partner's name.
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