Life Insurance is personal expenses, paid from business will be Debited to Capital A/c of Sole proprietor .
Max Life Insurance A/c Dr
Cash. A/c / Bank Cr
( paid for life insurance from Business)
Capital A/c Dr
To Max Life Insurance Cr
( Transfer entry)
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
