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Parnership Introduction

In the 4th video there is a sum regarding division of profit But sir didn't take drawings WHY


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

05-Oct-20 10:22

14

Answers (6)

Why would you take drawings for division of profit?


Suraj Lakhotia

Suraj Lakhotia

Admin

05-Oct-20 15:24

Why would you take drawings for division of profit?

Because this drawings from the amount of money partners should receive


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

05-Oct-20 17:34

Sharing of profit is different. Withdrawing amount is different.


Suraj Lakhotia

Suraj Lakhotia

Admin

05-Oct-20 17:49

Sharing of profit is different. Withdrawing amount is different.

If X and Y are partners sharing profits equally and the profit is 10 00 000 and only X drew 50000 At the time of profits Y may say instead of taking 5 lakhs take only 4 50 000


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

05-Oct-20 17:52

If X and Y are partners sharing profits equally and the profit is 10 00 000 and only X drew 50000 At the time of profits Y may say instead of taking 5 lakhs take only 4 50 000

Profits are credited to partners account. When they withdraw they are debited. So finally what is balance will be withdrawn.


Suraj Lakhotia

Suraj Lakhotia

Admin

06-Oct-20 18:16