Payment done from capital a/c
This query is : Resolved
25 May 2013
If the company did any exp for the company & paid from his capital then how we will show this entry & how can we nil this a/c
Please Help Me With This problem!!!!!!
If the company did any exp for the company & paid from his capital then how we will show this entry & how can we nil this a/c
Please Help Me With This problem!!!!!!
25 May 2013
If you are intending to Nil the Share Capital A/c of the company, then that is not possible.
Charge your expenses to P/L and if the same is negative then your net-worth will reduce to Zero. Share Capital cannot be reduced from expenses.
Charge your expenses to P/L and if the same is negative then your net-worth will reduce to Zero. Share Capital cannot be reduced from expenses.
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16 June 2013
Dr. P & L A/c
Cr. Expense A/c
Cr. Expense A/c
18 June 2013
It is transfer entry. Initially when you might have incurred any expenditure you must have debited it, now i am simply giving a transfer entry assuming you have made expenditure entry.
19 June 2013
ok sir in that case, profit is less but also exp is credit.after that there is no change in profit.
i have entered this entry but i found same answer.
i have entered this entry but i found same answer.
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