In accordance with the Garner V Murray rule, the deficit in the capital
account of a defaulting partner is transferred to the capital accounts of the
remaining partners:

Question

Answer

in proportion to the profit and loss sharing ratio

Answer

in proportion to their last capital account balances

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is written off as bad debts

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in proportion to their last current account balances

Crowdly

In accordance with the Garner V Murray rule, the deficit in the capital account...

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