Introduction of inventory as capital of a partner
Querist : Anonymous
If a partner in a partnership firm introduces items of Inventory as Capital, then how the same should be accounted in Tally (so as to give effect of inventory)?
Ex. If a partner brings in his personal gold as a capital in partnership firm which is into the Jewellery business, then how the same should be accounted in Tally + Inventory Master?
To partner capital a/c (with value of stock) CR.
Querist : Anonymous
In addition to above, Purchases A/c Dr. to Partner's Capital A/c --- This entry cannot be done in Tally. You can check it out.
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