Hello, a partner purchases an asset to be used by the partnership firm.
PAYMENT MADE IN CASH.
WHAT IS THE ACCOUNTING ENTRY NEED TO BE PASSED BOTH 1.) IN THE BOOKS OF PARTNER & 2.)IN THE BOOKS OF THE FIRM???
Thanks.
Hello, a partner purchases an asset to be used by the partnership firm.
PAYMENT MADE IN CASH.
WHAT IS THE ACCOUNTING ENTRY NEED TO BE PASSED BOTH 1.) IN THE BOOKS OF PARTNER & 2.)IN THE BOOKS OF THE FIRM???
Thanks.
kindly tell me the group classification also please.....
Karia Overseas
Ahmedabad
CA
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