- This topic has 5 replies, 3 voices, and was last updated 11 years ago by
.
Viewing 6 posts - 1 through 6 (of 6 total)
- Posts
If a paterner assumes responsibility of motor vehicle expenses and half of depreciation expense, how do we treat these entries the final accounts of the paternership?
Partnerships are not examinable in Paper F3!
(You would credit the expanse accounts and debit the partners current account, but again – this cannot be examined in F3. It was removed from the syllabus many years ago.)
Dear John
Partners have limited liability and are not personally liable for the debts of the partnership
Is it correct ?
Viewing 6 posts - 1 through 6 (of 6 total)
- You must be logged in to reply to this topic.