1) can anyone let me know what would be the accounting entries to be passed in the 1st year of incorporation of an LLP?
2) what is better - fixed capital account or fluctuating capital account ?
3) can I purchase computer or any other fixed assets from the capital introduced by the partners ?
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LLP 1st yr accounts
Replies (1)
As per my knowledge.,
1. Mainly enter the promoter(s) details and their capital introducing entries. After that regular business transactions and financial transactions...
2. Better to keep both accounts as Fixed h Fluctuating...
3. Yes... Why not...?!. You can.
1. Mainly enter the promoter(s) details and their capital introducing entries. After that regular business transactions and financial transactions...
2. Better to keep both accounts as Fixed h Fluctuating...
3. Yes... Why not...?!. You can.
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