What will be entry for that: Busines strarted with brrowed
cash Rs. 25000 from Mr. X. if capital will be creadit.
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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
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