entries
This query is : Resolved
achal kumar
(Querist)
22 November 2010
what should be entries drowing and entries capital
sudhakar ca cwa
(Expert)
22 November 2010
propriters and for partnership firms is applicable these entries
Drawings/ Capital a/c dr
to cash/ bANK
Based on policy we can debit drawings or capital. my suggestion is debit to drawings only.
Cash/ Bank a.c dr
to Captial a.c
For capital introduction.
But as per income tax act necessary source are required for this amount
Drawings/ Capital a/c dr
to cash/ bANK
Based on policy we can debit drawings or capital. my suggestion is debit to drawings only.
Cash/ Bank a.c dr
to Captial a.c
For capital introduction.
But as per income tax act necessary source are required for this amount
CA.Madhusudan B.P.
(Expert)
22 November 2010
Capital Introduced ;
Debit Cash / Bank
Credit Capital
For DRAWINGS :
Debit Capital
Credit Cash/Bank
Debit Cash / Bank
Credit Capital
For DRAWINGS :
Debit Capital
Credit Cash/Bank
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