Fraud leading to dissolution

Accountancy

What will be the impact of a fraud by a partner on the garner vs Murray rule calculation - will the fraud be adjusted like general reserve before the calculation of the ratio to divide deficiency? Or will it be taken to realization account?

P H Ananthakrishnan

CA Inter

★ 175

08-Nov-22 21:36

420

Answers (1)

First u have taken to realisation account And then u have debit the partner account Entry will be Debtor ac To realisation 2nd entry Partner capital To debtors ac

Anand Sankaran

CA Inter

★ 3K+

08-Nov-22 22:15