Journal entries..
Querist : Anonymous
To Party or Bank A/c....
Querist : Anonymous
How can i show it in Capital A/c by:-
Land A/c----Dr.
To Capital A/c
Is this Entry OK.. !!
Capital Account can not be credit.
Querist : Anonymous
Querist : Anonymous
To Land A/c
Sir is this Entry OKK..?
Golden rule of accountancy...
Dr What Comes in Credit what goes out..
Land is coming in and bank Balance is going out..
So...
Land A/c Dr...
To Bank A/c...
Querist : Anonymous
Is this possible.?
Capital A/c Dr ....
To Drawings A/c.....
Drawings A/c Dr...
To Bank A/c....
(Being Land purchased by withdrawing capital from business).
Remember proprietorship is sole entity. So assets of individual is also asset of proprietorship.
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