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Pass journal entries
Purchased goods from mr x on credit 1000
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Answer Posted / s. vijaya kumar
Parchase of Goods A/c Dr. 1000
To Mr.X A/c 1000
( Being Goods purchased from Mr. X on credit Rs.1000)
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For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?
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