Regarding cash transaction
This query is : Resolved
01 December 2015
One of director of a company bring cash for operations, finally amount was treated as share capital, and the amounts are borrowed funds, whether the transaction is correct.
01 December 2015
it is for the director to declare whether the cash brought in is towards borrowed funds or capital OR initially as borrowed funds and then converted to capital.
18 December 2015
initially for cash adjustment i.e borrowed personally, and transfer to company , can convert the amount not repaid , into share capital.
20 December 2015
Yes, no issues. One may do that.
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