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Dissolution of Partnership

Accountancy

Can capital reserve be transferred to Partners capital ac? (Like general reserve)

Angel Maria Varghese

CA Final

★ 9K+

04-Mar-23 15:52

316

Answers (6)

Farhana Shaik

CA Inter

★ 19K+

04-Mar-23 15:57

Then how do we close capital reserve account

Thread Starter

Angel Maria Varghese

CA Final

★ 9K+

04-Mar-23 15:59

I think yes it is correct, in the board book mentioned " any reserve"

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Ganesh Gonehal

CA Inter

★ 1K+

04-Mar-23 22:51

Ganesh Gonehal

I think yes it is correct, in the board book mentioned " any reserve"

Capital reserve is not related to profit or loss. So it can't be transferred.

Farhana Shaik

CA Inter

★ 19K+

06-Mar-23 12:20

Farhana Shaik

Capital reserve is not related to profit or loss. So it can't be transferred.

Then how to close the account during dissolution

Thread Starter

Angel Maria Varghese

CA Final

★ 9K+

06-Mar-23 12:39

Thread Starter

Angel Maria Varghese

Then how do we close capital reserve account

Transfer it to the partner's capital account.

CA Suraj Lakhotia

Admin

07-Mar-23 16:40