Accountancy, asked by rishab5040, 8 months ago

what is Garner vs Murray rule ?how it is applied under fixed and fluctuating capital system?

Answers

Answered by laijuvdominiclaijuvd

Answer:

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Answered by Tanmayrajput05

$<div style="width:300px;background-color:yellow;color:blue;border:1px solid black;">According to Garner Vs. Murray, the capital a/c debit balance in an insolvent's partners a/c is to be shared by the other solvent partners in their fixed capitals ratio(In case of fixed capital system) Or. In the ratio of their capitals standing just prior to dissolution (In case of fluctuating capital system). </div>$

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