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final accounts

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(Querist)
22 February 2011 treatment for business creditor directly paid by proprietor not brought into books
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S.A.BADAMIKAR

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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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