Internal Reconstruction
This query is : Resolved
Deepika Agarwal
(Querist)
19 September 2016
The bank agree to the arrangement and to increase the cash credit overdraft limit by ₹100000 upon the shareholders agreeing to bring in a like amount by new equity.
What will be the journal entry ?????
Amol S Joglekar
(Expert)
20 September 2016
Please check, if the limit exists fro Authorised Capital. If it is there, then bring the capital and credit the same to share capital
Deepika Agarwal
(Querist)
20 September 2016
What is treatment if there is bank OD account for ₹600000 ?????
Amol S Joglekar
(Expert)
20 September 2016
What do you mean by that? Mere sanction of a limit has got NO entry as such in books of accounts...
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