What will be entry for that: Busines strarted with brrowed
cash Rs. 25000 from Mr. X. if capital will be creadit. Why?
Answers were Sorted based on User's Feedback
Answer / libin kulamuttom
In copany's book the entry
will be:
By cash
To capital
[Here the busines is liable to
pay tha amount to the owner]
At the same time the owner
will also prepere his own
account.There the entry will
be:
By cash
To loan from mr.x
[here the owner is liable to
pay the amt to Mr.x personally]
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / pappu sharma
How can a person start a Business with the help of other's
money. lallluu sala
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anand reddy
cash a/c dr
to capital a/c
bcoz company is separate and person is separate. in the
company books entry is posted according to the person.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / babhu kanchupalli(dms)
Cash a/c Dr
To Capital a/c
(being business started with capital)
According to the seperate entity concept, the proprieter is seperated from the business.If the proprieterstarts the business with borrowed money......it belongs to his personel transaction....businesss has no effect on this.....even they invested their own money or borrowed from others it is up to him only....for business capital is a liability......in this case also it is same like that.....
Is This Answer Correct ? | 0 Yes | 0 No |
can u explain the meaning of Work Contract Tax in breif.
Payment Blocks . What is "A" and "R" Blocks in Account payables.. ??
Pass the journal entry: rent outstanding
WHAT IS THE ENTRY TOWARDS PAYMENT OF A BRNAD AMBASSADOR OF A COMPANY
10 Answers Hindustan Unilever Limited, HLL,
Derivative
What is difference between Cash Flow and fund flow
What is Tally
Your marketing company has been working on a consulting project for a client. Your team has worked on the project for two months, and it is now year-end. The project will be completed by February of the next year, and the client has not yet been billed. For the financial statement, how should project be classified?Should the costs associated with an uncompleted consulting project be classified as a work-in-process asset on the balance sheet or should the cost be expensed on the income statement as a part of the doing business?why?
what is difference between budgeting and Forecasting
Is an "account receivable" and "goodwill" real accounts in accounting?
what is Debtors & Creditors management
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.