Journal entry
This query is : Resolved
17 August 2012
hello.... i want to know wat will be the journal entry passed for starting business by taking loan....it shud be cash debit, loan credit..... dat means there will be no capital.... pls answer my query
18 August 2012
If the business is started with 100% loan capital, then this is how the entry will be:
Cash/Bank a/c Dr
to Loan a/c
However, no one will lend if the business owner has no funds to invest on his own and if the business owner is totally dependent on loan capital.
Cash/Bank a/c Dr
to Loan a/c
However, no one will lend if the business owner has no funds to invest on his own and if the business owner is totally dependent on loan capital.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- E way bill for tractors
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
