banner_ad

Property name partner name amount pay firm

Others 220 views 3 replies
User Avatar

B.com
3024 Points Posted on 04 February 2022
A partner ship firm purchase of property registered in partner name and property amount pay through partner ship firm bank account.
question:
above transaction treatment Books firm and partner in it act.
0 Reply Share Follow
On 04 February 2022 at 17:24 Report
Replies (3)
User Avatar

CFO- at NHTF
58280 Points Posted on 04 February 2022
You may adjust in Partners current account

Partner Current Account Dr

To Bank

If power of attorney is taken from partner then you consider it as loan or even you can bring the asset to partnership firm using documentation
Reply
On 04 February 2022 at 18:55
User Avatar

Chief Accountant
3150 Points Posted on 04 February 2022
Why are not purchase that in firms name, if it's used for firms business.
Reply
On 04 February 2022 at 19:49
User Avatar

CFO- at NHTF
58280 Points Posted on 05 February 2022
You can also consider as loan & bring the asset to books by adjusting loan ..

Even you may adjust in Partner current account
Reply
On 05 February 2022 at 08:09


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details