Partners or Director Capital Account and Loan account
This query is : Resolved
28 July 2023
In Partnership firm I have prepared two account for partners.
One is partners capital and another one is Loan account.
Partners is kept as fixed capital introduced by partners, Loan account is used for transaction done by partner like payments receipts.
Likewise can I creat two account for Partners in Private limited company ?
1. Capital account
2. Current / Loan Account
Please Guide
One is partners capital and another one is Loan account.
Partners is kept as fixed capital introduced by partners, Loan account is used for transaction done by partner like payments receipts.
Likewise can I creat two account for Partners in Private limited company ?
1. Capital account
2. Current / Loan Account
Please Guide
28 July 2023
In case of company it's only loan account not current account.
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