Interested to Buy Any Domain ? << Click Here >> for more details...
What will be entry for that: Busines strarted with brrowed
cash Rs. 25000 from Mr. X. if capital will be creadit. Why?
- 11 Answers
- 14905 Views
- IAS, I also Faced
- E-Mail Answers
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 |
Other accounting interview questions to expect when you interview for an accountancy job include:
why journal entry are necessary
what do you mean byrecoupment of shortworkings in royalty accounts
Tell me,as per companies which section P&L Account and balance sheet will be prepared
one bank account transaction example ebanking raj medical 500000 dr. second bank account ebanking raj medical 500000 cr what is the entry in tally erp can it is contra contry or not please explain
If salary paid per month Rs 40000/ I will deduct TDS from his salary, please what I do explain.(send Urgently)
Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
What is cost accountancy?
WHICH QUESTIONS ASKED IN EPFO IN 2009.
If We Are Purchase Any Service For Ex. Agency Charges From Creditors & Give Or Sale The Same To Debtors; Then How I Open Agency Charges Ledger? What Is The Grouping Of It? Is It Purchase A/c. Or Sales A/c.? And If Its Purchase A/c. Then How I Enter It In Debtors A/c. Or Should I Make Two Different Ledgers With Two Groupings Purchase One And Sales One?
how to pass the opening stock entry & closing Stock entry in Tally ?
12 Answers KBC, TCS,
what is an accured account ?
Audit 
