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Adv account. Partnership

Why in this sum deficiency of partner capital of C and D is debited to A and B IN their capital ratio Instead of profit sharing ratio when garner Murray rule not mentioned

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Gokul Nath

Gokul Nath

CA Inter

330

19-Feb-20 14:55

31

Answers (3)

If there is no agreement between the partners, Garner vs Murray rule is applied by default even if the question is silent.


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Feb-20 06:17

If there is no agreement between the partners, Garner vs Murray rule is applied by default even if the question is silent.


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Feb-20 06:17

If that's the case why not cash is not brought for the loss on realisation


Gokul Nath

Gokul Nath

CA Inter

330

26-Feb-20 18:02

You need to bring in cash for realisation loss. (Though generally its a book entry only, but still need to show). The book might be incorrect.


Suraj Lakhotia

Suraj Lakhotia

Admin

26-Feb-20 18:39