how do we show capital account of parteners if not mentioned in deed
Nafis (Account officer) (50 Points)
29 October 2018
prasad Nilugal
( GST Practitioner & Accounts )
(14610 Points)
Replied 29 October 2018
If nothing in deed regarding capital you have apply rules led down by the Indian partnership act ,1932 .
However normaly two method for partners capital
1) Fluctuating capital method - All adjustments are made in patners capital
2) Fixed capital method - For each partner a separate capital account is maintained , moreover a saparate Current Account is also maintained .
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