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    smartfigure's Avatar
    smartfigure Posts: 1, Reputation: 1
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    #1

    May 29, 2007, 04:50 PM
    Journal for losses distributed from partnership
    Is my Journal correct?

    Dr Partnership Dist 100
    Cr Retained Profit 100
    pree007's Avatar
    pree007 Posts: 14, Reputation: 1
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    #2

    May 29, 2007, 07:13 PM
    The entry is better written as :

    Dr Partner's Capital 100
    Cr Profit and loss A/c 100

    As losses reduces the capital or contribution of partners share in the organisation or business
    omsailogistic's Avatar
    omsailogistic Posts: 39, Reputation: -1
    Junior Member
    		  
    #3

    May 31, 2007, 02:20 PM
    Pree Is Correct " If The Business Is Still Continuing"
    But If Business Is To Be Ceased With These Losses We Have To Make Use Of
    Dissolution Concept...
    I Wish This Is Not Yours Case... :-)
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