Capital Introduced
This query is : Resolved
05 June 2009
Why is capital introduced in business added in assets?
(As done in PCC Module of Accounts Vol 1, Chapter 1, page No. 1.13)
(As done in PCC Module of Accounts Vol 1, Chapter 1, page No. 1.13)
06 June 2009
Capital added will be in liability side of the balnce sheet.
Entry passed:
Cash / Bank A/c... Dr
To Capital A/c
Entry passed:
Cash / Bank A/c... Dr
To Capital A/c
07 June 2009
Capital introduced in business cannot be added in Assets. This is a liability for business
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