mahesh (student) (139 Points)
24 June 2011hi lets discuss about parnership firm.
If A&B are sharing P&L in the ratio 55:45. now A decided to continue as a Sole trading concern. As per the valuation B's share value is1,38,000. now my query is..... A decide to give 1lac+38000(i.e 30%of some selected bills reciveable). I mean to say is A is ready to give1lac + some bills receivables to B . pls tell me.. is A's decision is acceptable r not as per partnership act.
pawan gupta
(Chartered Accountant)
(47 Points)
Replied 24 June 2011
Aparna Raja K.C
(Student)
(520 Points)
Replied 24 June 2011
Liability towards a retiring partner shall be made as per his direction if partnership deed is silent about it :)
But do make sure that partnership deed doenst contain any clause in contrary :)
CAclubindia
