Partnership
This query is : Resolved
suja sathish
(Querist)
07 June 2014
my client is a partnership firm.
one of the partners purchased motor vehicles and a godown in his name before the date of parnership agreement by taking a loan.
these are used for the purpose of the partnership business.
can we brought both vehicle and the godown into the account of firm through the parners capital account?
can we account the unsecured loan taken for purchasing the vehicle and godown in the accounts of firm?.
one of the partners purchased motor vehicles and a godown in his name before the date of parnership agreement by taking a loan.
these are used for the purpose of the partnership business.
can we brought both vehicle and the godown into the account of firm through the parners capital account?
can we account the unsecured loan taken for purchasing the vehicle and godown in the accounts of firm?.
07 June 2014
yes partner can introduce that assets in firm via capital....
07 June 2014
Partners may introduce capital either in cash or kind also. So there is no problem is introducing asset as capital.
Rupesh Jain
(Expert)
07 June 2014
partner can give assets or fund as capital in partner ship firm .
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