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Fixed assets show in firm or partner account

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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14 June 2021 Sir,
A partnership firm purchase of new car .but car purchase value show name of one of a partner name car
partnership firm used purpose.
Question:
Above transactions purchase of car show in firm account or partner individual account books in it act.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 June 2021 As money spent by the firm show it in firm's account.

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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15 June 2021 sir, purchase of new car value payment through on partner individual bank account

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 June 2021 Can't be shown in firm's account.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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20 June 2021 Agree with Seetharaman ji

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