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Regarding capital introduction in new business
Respected Experts ,
If A person started new business of trading and I want to know that what is the rule of capital introducing in business. He invested 10 Lacs in his business. I mean is there any rule of introducing capital in business in cash or can we only pass journal entry cash a/c to capital a/c and create capital of proprietor.
Replies (4)
"I mean is there any rule of introducing capital in business in cash or can we only pass journal entry cash a/c to capital a/c and create capital of proprietor.........."
What would be source of the cash?........ How to answer when query raised.......
Best way is to transfer balance from saving account of proprietor to the firm's current account. Even loans from known sources can be taken by banking modes......
Thanks Sir for your guidence. Can we deposit some amount as Cash in current account and Stand as capital
Yes, should be justifiable......
Thank you very Much Sir
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