Regarding capital introduction in new business
Deep Garg (Accountant) (259 Points)
30 June 2017Deep Garg (Accountant) (259 Points)
30 June 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160342 Points)
Replied 30 June 2017
"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......
Deep Garg
(Accountant)
(259 Points)
Replied 30 June 2017
Thanks Sir for your guidence. Can we deposit some amount as Cash in current account and Stand as capital
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160342 Points)
Replied 30 June 2017
Yes, should be justifiable......
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