Easy Office
Easy Office

Transfer to Capital Account

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 February 2022 In a partnership firm there are three partners and there Ratio in firm are respectively,
A-50%
B-40% and
C-10
Net profit for the F.Y 2020-21 50,00,000 , i want to net profit transfer to partners capital account
is below entry passed are correct or wrong, Please reply.
Profit and Loss A/c Dr -50,00,000
To A Capital Account Rs. 25,00,000
To B Capital Account Rs, 20,00,000
To C Capital Account Rs 5,00,000
Profile Image

CA R SEETHARAMAN online

Profile Image

CA R SEETHARAMAN online (Expert)
22 February 2022 It's right entry passed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links