21 December 2019
In our co. when co's current a/c not open that time all partner put money in one partner SB A/c and form this a/c they make payment regarding the same, I have some below query? 1) Partner Y, Partner Z transfer money to Partner X Saving bank a/c ....... what will be the entry? 2) Partner X paid expenses from their Saving Bank a/c for business ... what will be the entry? 3) All remaining 5 partners transfer 10,000/- each to Partner X (Active Partner) Saving Bank a/c towards Salary ..... what will be the entry?
CAclubindia
