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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

44

Answers (6)

Why would you take drawings for division of profit?


Suraj Lakhotia

Suraj Lakhotia

Admin

05-Oct-20 15:24

Suraj Lakhotia Admin

Why would you take drawings for division of profit?

Because this drawings from the amount of money partners should receive


Thread Starter

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

Suraj Lakhotia Admin

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


Thread Starter

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

05-Oct-20 17:52

Thread Starter

Prasanth kumar Kamisetty

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 So finally what is balance will be withdrawn.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

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