If I have a loan in individual capacity which now I m getting transferred to my partnership firm
what will be the accounting treatment in both the books?
thanks in anticipation
Yes you can transfer the loan to partnership firm.
There may be a case, when a partner has given unsecured loan to his partnership firm and later on that partner is agreed to convert its loan to its capital. ... A single entry need to be posted by debiting the unsecured loan a/c and by crediting the partner capital account.
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