Transfer of Husband Loan Principal to Wife
This query is : Resolved
03 April 2021
In our Pvt Ltd co. directors are Husband & Wife, and both of them has given loan to Company, on the death of Director (Madam) we have transferred her loan to Director (Sir) account in the books of company.
Now, what will the accounting entry in the books of Directors and under which head ledger to be created
Now, what will the accounting entry in the books of Directors and under which head ledger to be created
28 September 2021
Director (Sir)
Dr. Loan Company acc.
Cr. Inheritance cap of Spouse. (new ledger)
Director (Madam)
Dr. Capital acc.
Cr. Loan Company acc.
Dr. Loan Company acc.
Cr. Inheritance cap of Spouse. (new ledger)
Director (Madam)
Dr. Capital acc.
Cr. Loan Company acc.
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