Accountancy, asked by lucky7711, 1 year ago

garney vs murray rule

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Answered by moin462

2

The Garner vs. Murray rule is applicable in case of dissolution of Firm; The rule says that the loss on account of insolvency of a partner is a CAPITAL loss which should be borne by the solvent partners in the ratio of their capitals standing in the balance sheet on the date of dissolution of the firm.

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