What is the full from of DR and CR ?
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Answer Posted / bikram
debtors & creditor
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Purchase book is a ----------journal
my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
We have two mandatory qualifiers nature of accounts and balancing segment, which will balance the debit and credit and recognize the nature of accounts, my question is what other qualifiers do. Like management. Thank you.
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Expand---------PDCB
