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????????????????
- 5 Answers
- 11470 Views
- IAS, I also Faced
- E-Mail Answers
Answer Posted / shikha
The above question is in reference to a "Sole Proprietorship" It will have two solutions:
Case I In this treatment, we would consider that the proprietor has taken the loan from Mr. X privately seperate of the business concern. In such a situation the entry in the books of the firm would be:
Cash A/c Dr. 25,000
To Capital A/c 25,000
(Being Capital introduced in business)
Case II In this we would assume that the loan is taken by the proprietor keeping the business into consideration. The entry would be:
Cash A/c Dr. 25,000
To Capital A/c 25,000
(Being Capital introduced in business)
Capital A/c Dr. 25,000
To Mr. X's Loan A/c 25,000
(Being Mr. X's Loan recognized for
financing capital)
| Is This Answer Correct ? | 4 Yes | 2 No |
Post New Answer View All Answers
What is absorption costing with defination? and what is marginal costin with defination?
What is the Full Procedure of Purchase ?
Wo kya cheez hai jo sal me 1bar mahine me 2 bar aur hafte me 4 bar aur din me 6 bar ata hai?
What does the investment of personal assets by the owner will do?
AL+w button lanunches the .............. installed web brower
Role-specific management accountant job interview questions:
What is account payee cheque? Expand ctc cheque?
SOLD GOODS WORTH 5000 TO AKBAR WHO PAID 3000 ON ACCOUNT
Define executive accounting?
How is scrap value calculated?
Anti Takeover policies
hi i want to run vendor debit memo after he paid all amount i want to give discount through miro i am giving the price and quantity and run in through miro the system will pass another two more line iteams extra and shwoing dr/cr balance +/- when i will increase the amount this is also increasing what is the reason i dont know please send me immediately
Interest received 5,000 and still receivable Rs. 2,000 PLease give journal entry for this!
What are the 4 principles of gaap?
In Service tax Return ST-3 What is meaning of first Row (i) Service tax payable (a) Gross amount received in money (I) Against service provided Pls explain in detail
