final accounts
This query is : Resolved
archana v nayak
(Querist)
22 February 2011
treatment for business creditor directly paid by proprietor not brought into books
S.A.BADAMIKAR
(Expert)
23 February 2011
It is not clear from the question, what is exact requirement / clarification u require. If proprietor had directly paid the business creditor from personal account(account which do not relate to business) then pass the following JV. Debit the creditor & credit the capital account of the proprietor in the proprietary business to which the creditor relates
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