Why we won't write person name in opening entry,
For example, Gopal started a business with cash 5000rs/-
entry will be
Cash A/c Dr
To Capital A/c
Why we won't write
Cash A/c Dr
To Gopal A/c
Thanks in advance
Why we won't write person name in opening entry,
For example, Gopal started a business with cash 5000rs/-
entry will be
Cash A/c Dr
To Capital A/c
Why we won't write
Cash A/c Dr
To Gopal A/c
Thanks in advance
The business entity personal entity is different. Generally we do not write our name in our business books. We write other names to easily identify. For example In partnership business we writer partners capital account with their names for easilty identity purpose.
Debit all Assets
Credit All Liabilities
By this way, the balances of all ledgers can be carried forward
For Vistt:-https://www.profsindia.com/topic/opening-entry/#post-7301
Debit all Assets Credit All Liabilities By this way, the balances of all ledgers can be carried forward For Vistt:-https://www.profsindia.com/topic/opening-entry/#post-7301
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