Close loan from director
Asha B , (Student) (11 Points)
13 October 2024
How to pass journal entry to close loan from Directors. Whether to transfer to P&L A/c.
7 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5616 Points)
Replied 13 October 2024
Asha B ,
(Student)
(11 Points)
Replied 13 October 2024
Can we transfer loan to profit and loss account without passing payment entry
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5616 Points)
Replied 14 October 2024
Not in p & l account.you4 can adjust in balance sheet
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5616 Points)
Replied 14 October 2024
Debit loan from Directors account and credit capital account
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5616 Points)
Replied 14 October 2024
Debit loan from Directors account and credit capital account
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