PGBP
This query is : Resolved
Sunil Agarwal
(Querist)
16 July 2009
Any payment above 20000 otherwise than account payee cheque or demand draft is disallowed. now if any expense payment made by partner on the behalf of the firm above 20000 and entry passed in the books
Expense a/c dr
to Partners Capital
Is it disallowed.
Expense a/c dr
to Partners Capital
Is it disallowed.
16 July 2009
Yes, it will be disallowed as the same entails two entries:
Cash a/c dr
To Partners Capital
Expense a/c dr
To Cash
Cash a/c dr
To Partners Capital
Expense a/c dr
To Cash
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