Doubt
This query is : Resolved
17 December 2010
Mr. X obtains loan from bank Rs. 500000 and starts business. Then in the balance sheet will the loan obtained be shown as Capital as on first day Rs. 5 lakhs and Secured loan Rs. 5 lakhs? Please tell me..
Regards,
Devendra
Regards,
Devendra
18 December 2010
Secured Loan Rs 5 Lacs.
Can not show it as capital. It is not self introduced but obtained as loan.
Can not show it as capital. It is not self introduced but obtained as loan.
18 December 2010
First of all, he cannot show the loan, both as a capital introduction and as well as Secured Loan..
Either of the case can happen..
If he takes a personal loan... he can show the same as Capital Introduction. But, if its a business loan, the same will become Secured/Unsecured Loan in the books of business
Either of the case can happen..
If he takes a personal loan... he can show the same as Capital Introduction. But, if its a business loan, the same will become Secured/Unsecured Loan in the books of business
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