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What will be entry for that: Busines strarted with brrowed
cash Rs. 25000 from Mr. X. if capital will be creadit. Why?
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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.....
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