27 October 2015
Dear professionals, plz guide me on my following query. xyz partnership firm has incurred loss rs. 136268/- before partners 12% interest and remuneration, plz let me know in this case should i credit interest and remuneration to partners capital if yes how much...
27 October 2015
You have to necessarily look into the provisions of the partnership deed and accordingly book interest and remuneration only if the deed says so in case of loss.