If a partnership firm incurres loss in current year what is the treatment in accounts (i.E) their is 2 partners sharing 50-50 & incurring loss in business Rs. 38500/-. how it is accounted
mohit (account) (51 Points)
15 February 2010If a partnership firm incurres loss in current year what is the treatment in accounts (i.E) their is 2 partners sharing 50-50 & incurring loss in business Rs. 38500/-. how it is accounted
First!!!!
(student)
(162 Points)
Replied 15 February 2010
1) P&L Appropriation A/c Dr 38500
To P& L A/c (Net Loss) 38500
2) Partner' Current A/c....Dr 38500
To P&L Appropriation A/c 38500..
First!!!!
(student)
(162 Points)
Replied 15 February 2010
1) P&L Appropriation A/c Dr 38500
To P& L A/c (Net Loss) 38500
2) Partner' Current A/c....Dr 38500
(In their PSR)
To P&L Appropriation A/c 38500..
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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