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
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