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Former Member
Jan 24, 2008 at 07:08 AM

Transfer of Retained Earnings to Proprietor/Partner Capital Account

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Dear all,

One of my client is a Partnership Firm. After year end closure activities Profit/Loss is calculated in Retained earning Account.

Actually this Profit /Loss has to be apportioned to respective Partners capital Account.

Pls let me know the procedure for transfer from Retained earning Account .

Thanks & Regards

Veena Kunthe