Regarding capital account entry
This query is : Resolved
16 May 2019
Respected Sir's
As per above stated subject I am working in a Partnership Firm as an accounts position.
Two partners started working as a partner through partnership firm.
One of Partner paid the amount through his saving account for purchase of goods from vendor.
So please tell me how to treat this entry for capital account as well as payment made to vendor.
Regards
Ashok
As per above stated subject I am working in a Partnership Firm as an accounts position.
Two partners started working as a partner through partnership firm.
One of Partner paid the amount through his saving account for purchase of goods from vendor.
So please tell me how to treat this entry for capital account as well as payment made to vendor.
Regards
Ashok
07 June 2019
debit purchases
credit partner's capital account
credit partner's capital account
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