GANEH (Accountant) (37 Points)
13 January 2016
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 14 January 2016
A) When money borrowed from friend --
Cash or Bank A/c Dr 100000
To Loan from Friend (Mr. A) 100000
(Being loan taken from friend)
B) Introducing capital to the new business --
Cash A/c Dr 100000
To Capital A/c
(Being business started with cash)
C) Every time When paying the borrowed money with interest to friend --
Loan from Friend (Mr. A) Dr. 10000
Interest on loan A/c Dr. 400 (supposed)
To Cash or Bank A/c
(Being part payment of loan paid to Mr. A)
GANEH
(Accountant)
(37 Points)
Replied 14 January 2016
CAclubindia
