What is the treatment of partner's loan A/C in dissolution chapter and why???
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The treatment of partner's loan will be like a liability and it will be shown in the liability side of new balance sheet in the name of partners' and it may be paid out by partly or fully in the succeeding years or at the time of dissolution of firm but after paying off the outsiders liability....
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Here is the answer
The treatment of partner's loan will be like a liability and it will be shown in the liability side of new balance sheet in the name of partners' and it may be paid out by partly or fully in the succeeding years or at the time of dissolution of firm but after paying off the outsiders liability....
Hope this will help you..
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