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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 Posted / 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 |
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