Accounting of partnership firm
Hardik Patel (B.Com, CA Final) (158 Points)
17 April 2017Hardik Patel (B.Com, CA Final) (158 Points)
17 April 2017
A. NAGARAJAN
(CHARTERED ACCOUNTANTS)
(66 Points)
Replied 17 April 2017
Hi
if the partnership deed has a preamble which states that the partnership has been carried on from Aug 16 orally and now the terms are put into writing, then the income and exp can be accounted against the partnership firm . other details such as name in which invoices are raised or bills are recevied is also important