What will be entry for that: Busines strarted with brrowed
cash Rs. 25000 from Mr. X. if capital will be creadit.
???????????????????????WHY????????????????
- 5 Answers
- 9940 Views
- IAS, I also Faced
- E-Mail Answers
Answer Posted / libin kulamuttom
In company's book the entry
will be:
By cash
To capital
(here the firm is liable to pay
the amount to the owner)
At the same time,the owner
will also maintain his own book.In his book the entry
will be:
By cash
To loan from mr x
(here the owner is liable to
pay the amount to mr.x)
Libinoxford@gmail.com
| Is This Answer Correct ? | 15 Yes | 4 No |
Post New Answer View All Answers
What does the investment of personal assets by the owner will do?
what is "goodwill" reserve and surplus and reserve with example
Is it mandatory for the employees staff of a School, if so give details
How Many Accounting Principale
what is the head for stock trnasfer
Explain accounting 101?
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
What's the accounting entry when an Invoice is created in AR?
Suppose you buy a one-year government bond that has a maturity value of Rs.1000. The market interest rate is 8 per cent. (a) How much will you pay for the bond? (b) If you purchase the bond for Rs.904.98, what interest rate will you earn from this investment?
What are control ledgers? What are the purposes of maintaining it?
Apportionment of expenses
what is difference among credit, loan, advance
Explain what is double-entry accounting? Explain with an example?
What a deferred asset is and give an example?
Contrast bookkeeping and accounting
