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Sir if nothing is mentioned in the adjustments below the balance sheet of partnership firm ,then in the balance sheet there is a employment Provident Fund. then the adjustment for the employment Provident Fund is it we have to transfer to realisation account . but nothing is mentioned about the payment of that employment Provident Fund we have to pass the entry realisation account debit To Bank account . this entry will be passed or not
Answers (8)
Tharun Reddy
If nothing is mentioned regarding ee provident fund Bal, then it should be transferred to partners capital account.
Nope epf is for the benefit of the employee so it's should be as it is
Gokul Nath
Nope epf is for the benefit of the employee so it's should be as it is
The employee doesn't exist after closing books of firm. So that is why unused fund belong to partners.
Tharun Reddy
The employee doesn't exist after closing books of firm. So that is why unused fund belong to partners.
I don't think so. This amount belongs to employees only not the partners
Gokul Nath
I don't think so. This amount belongs to employees only not the partners
Ur argument may apply to other fund but this not like others. What if these fund represented by employee's contribution
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