Car loan clear from companies a/c
This query is : Resolved
13 August 2011
sir,
in a pvt. Ltd. firm on of the director purchase a car on loan and and repayment mad e from companies a/c so please suggest me whether this transaction right or wrong suggest the same for accounting
in a pvt. Ltd. firm on of the director purchase a car on loan and and repayment mad e from companies a/c so please suggest me whether this transaction right or wrong suggest the same for accounting
13 August 2011
If the car and loan account is in the name of the director, repayment of loan made by the company may be debited in director's personal account.
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