Capital accounts
This query is : Resolved
03 May 2013
I hv prblm.in identifying d entry to b debited or credited
04 May 2013
Nature of capital account is Personal Account. Golden rule applicable will be Dr the receiver nd Cr the giver. In simple terms any increase in capital shld be shown on credit side of capital a/c i.e. Salary recd, int income, rent income, gift recd. etc. Likewise any decrease in capital shld be shown on debit side e.g. Adv tax paid, lic paid, mediclaim paid, gift given, drawings etc.
14 June 2013
Expert NJR is correct and I agree with him
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