Partnership

Accountancy

What will be Accounting treatment for retirement or death of partner when the partner says amount payable to him should be paid in equal installments just like pension every month??? And is it allowed as per law??

Prathmesh Kharul

US CMA All

★ 6K+

05-Dec-23 03:33

377

Answers (2)

Transfer to Loan Account

Vishnu Muraleedharan

CA Final

★ 32K+

05-Dec-23 10:23

Will be treated as loan to the Firm ( will be paid every month or as instructed)

Bhavesh Kumar

CA Foundation

★ 425

06-Dec-23 01:43