The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Appropriation of accounts
Post Info TOPIC: Appropriation of accounts
Eilef


Senior Member

Status: Offline
Posts: 214
Date:
Appropriation of accounts
Permalink Closed

Just finished my BA5 course work and waiting for it to be marked before my mock exam.

i have a question regarding Appropriaton of accounts, i understand the process and it all makes sense if a partners Current Account is a DR bal he/she owes the business money. 

So therefore if it's a CR bal the business owes him/her money.

what happens if after the appropriation of the accounts etc... That the partner wants to take he CR bal on the current account?

 

Is it just recorded as drawings in the new year?

what if he doesn't take it out and leaves it in how does it effect the tax return?

 

 



__________________

Kind Regards

 

Eilef Loken MIAB

 
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Appropriation of accounts
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About