Journal entry

WHAT WILL BE THE JOURNAL ENTRY IF A PERSON HAVING A PRORIETORSHIP CONCERN INTRODUCE CAPITAL IN HIS PARTHERSHIP FIRM

Replies (9)

If capital is in nature of cash/bank then,

Cash/Bank a/c Dr.    XXX

   To Partner A/c                XXX

(Being cash/bank brought in as capital/additional capital by partner)

If capital is in nature of asset then,

Fixed Asset/Stock/Liability a/c Dr.    XXX

   To Partner A/c                                                      XXX

(Being capital/additional capital brought in by partner as fixed asset/Stock/ by settlement of liability of the firm)

is it separate organization or conversion of sole proprietorship in to partnership
Originally posted by : satish
is it separate organization or conversion of sole proprietorship in to partnership

SEPARATE

Originally posted by : Jeeva Thangavelu
If capital is in nature of cash/bank then,

Cash/Bank a/c Dr.    XXX

   To Partner A/c                XXX

(Being cash/bank brought in as capital/additional capital by partner)

If capital is in nature of asset then,

Fixed Asset/Stock/Liability a/c Dr.    XXX

   To Partner A/c                                                      XXX

(Being capital/additional capital brought in by partner as fixed asset/Stock/ by settlement of liability of the firm)

 

THIS IS CORRECT ENTRY BUT HOW WILL I REFLECT IT IN PROPRIETORSHIP BOOKS

entry in books ( not in firm)
if sole proprietorship business fund used then
Investment in firm a/c. Dr.
to cash or bank a/c
Originally posted by : satish
entry in books ( not in firm)if sole proprietorship business fund used thenInvestment in firm a/c. Dr. to cash or bank a/c

 

ok.. 

 

and how will it be shown in firm books? 

bank/cash a/c dr

to proprietor a/c???

just like i have replied above enrty to be made in firm books sir.. He is a Partner in firm and so proprietor account is irrelavant. Credit partners current/capital account.

cash / bank a/c. Dr.
To partner's capital A/c

THANK YOU GUYS

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
19 August 2026
PAID ARTCILE ASSISTANT

My Legal Tax Consultants Pvt. Ltd.

Noida

CA Inter

View Details
Company
ARTICLESHIP 08 August 2026
CA Articleship

RSAG & CO LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 05 August 2026
CA associate

Arun Deepak and Company

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
11 August 2026
COMPLIANCE EXECUTIVE

YMW COMPLIANCE SERVICES LLP

Others

CA Final

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details
FOLLOW
US ON