Individual accounts

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166 Points Posted on 17 May 2023
transferred amount from mother to daughter, how we treat this ledger, it is loan or capital expenditure, pls explain
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On 17 May 2023 at 10:42 Report
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This discussion clarifies how to account for money transferred from a mother to her daughter. The treatment depends on the purpose of the transfer. If the daughter is expected to repay the money, it should be recorded as a loan or advance in the mother's books (asset) and a creditor or liability in the daughter's books.

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ACCOUNTS MANAGER
2213 Points Posted on 17 May 2023

Only purpose will decide the treat.. ............. for what purpose did a mother give money to daughter ?? 

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On 17 May 2023 at 13:16
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166 Points Posted on 17 May 2023
Shortage of money in daughter's account she will return after some time
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On 17 May 2023 at 15:57
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ACCOUNTS MANAGER
2213 Points Posted on 17 May 2023

In Mother's Book -you can show Daughter is a Debtors or Loans &Advances under current assets .

In Daughter's Book - Mother is a Creditors or Loans Liability .

 

 

 

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On 17 May 2023 at 20:47
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166 Points Posted on 18 May 2023
Super sir satisfied
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On 18 May 2023 at 10:24
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ACCOUNTS MANAGER
2213 Points Posted on 18 May 2023

:) WELCOME......... DEAR........... 

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On 18 May 2023 at 10:47

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