A pvt ltd com have recived Rs 8 lac by cash from a partnership firm in year 2011-12. Now how can show in balancesheet ??? Pvt ltd company has 3 director and partneship firm has 2 partner.
1 person is same in pvt ltd company and patnership firm.
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What to do
Replies (1)
Dont show anywhere, bcz the firm who gave ths money in cash, he must not hv shown anywhere. If the firm hv shown ths money in his books of accounts thn u wil hv also show thrgh maintaining separate records for such transactions and show as loan.
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