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if a partner wants to leave the partnership how would the records be treated before he leaves?

2007-10-11 01:04:50 · 1 answers · asked by namankada 1 in Business & Finance Other - Business & Finance

1 answers

The accounting records should be updated (capital a/cs, drawings a/c, share of interest, share of profit), then the remaining partners should pay him what the partnership owes him in accordance with the terms of the partnership agreement.

2007-10-11 01:49:09 · answer #1 · answered by Sandy 7 · 2 0

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