Invest in partnership firm from my personal account
This query is : Resolved
28 November 2022
Sir,
I have contribute capital in my partnership firm from my personal saving account.
now what is the treatment of contribution in the books of my personal file . Whethers it will comes as loans and advances in assets side or dr side in capital account.
Please suggest.
I have contribute capital in my partnership firm from my personal saving account.
now what is the treatment of contribution in the books of my personal file . Whethers it will comes as loans and advances in assets side or dr side in capital account.
Please suggest.
28 November 2022
You can debit it to Assets side under 'Current Assets' head as 'Contribution to Partnership Firm'
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