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Payment by director on behalf of company


CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709)     10 May 2013

CS MOHIT SALUJA
PRACTICING CS Jalandhar 9914558709 
 197 likes  4633 points

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Mr A, Director of company made payment on behalf of company from his personal account for purchase of machinery. Now, what will be the status..whether it should be shown as unsecured loan..or what should be the entry in accounts..whether comapny should pay back the money to the director as repayment of unsecured loan.

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(Guest)

According to me, Paymet made by Director on behalf of Company you should show the same as unsecured loan taken from Director.

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pankaj nayyar (CHARTERED ACCOUNTANT)     11 May 2013

pankaj nayyar
CHARTERED ACCOUNTANT 
 3 likes  69 points

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find your ans here :

http://www.logiko.co/forum/showthread.php?tid=18

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CA Sahib Singh (ca)     11 May 2013

CA Sahib Singh
ca 
 29 points

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Very right said....good answer

Yogesh (Accountancy)     13 March 2018

Yogesh
Accountancy 
 3 likes  258 points

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Originally posted by : MOHIT SALUJA


Mr A, Director of company made payment on behalf of company from his personal account for purchase of machinery. Now, what will be the status..whether it should be shown as unsecured loan..or what should be the entry in accounts..whether comapny should pay back the money to the director as repayment of unsecured loan.

 

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