Car loan clear from companies a/c

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Tabrej Patel (Querist)
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13 August 2011 sir,
in a pvt. Ltd. firm on of the director purchase a car on loan and and repayment mad e from companies a/c so please suggest me whether this transaction right or wrong suggest the same for accounting

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 August 2011 If the car and loan account is in the name of the director, repayment of loan made by the company may be debited in director's personal account.

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