circumstances in dissolution of solvent and insolvent partner in garner v/s murray rule
Answer / shweta
When a partner’s capital account shows a debit balance on dissolution of the firm, he has to pay the debit balance to the firm to settle his account. If the partner becomes insolvent, he is unable to pay back the amount owed by him to the firm in full. The amount not paid is a loss to the firm which under the Garner vs Murray Rule is to be borne by the solvent partners
| Is This Answer Correct ? | 0 Yes | 0 No |
what is the cost and financial accounting? what is double entry system ?
Being BE student why you want to join bank?
0 Answers Banking, IBPS, Insurance,
how to show Income receivable in tally erp-9.
Is there any classification of direct and indirect expenses in peach tree? then why?
suppose i joined a company 8th April 2012, and my ctc is 300000 pa. then which tax employer deduct tds or pf and haw much tax deduct pm, where tax exemption limit is 2lac
what is formula for calculating stock market share
what is provision?
what is debenture ?
2 Answers Capital IQ, Genpact,
Expand C R
Expand T D R
what is difference between public sector and nationalised bank?
7 Answers College School Exams Tests, Magnum,
capital goods excise duty why are taken in 50 percent in firt finicial year and second next finicial year?