Mr. Raj is working as a partner in a partnership firm. He had issued Rs.60,000 as loan to its firm. Q. What will be its Journal Entry?
Q. Will there any effect on its Capital (Raj) A/c.?
Q. Any other point!!!
2 Replies
Niraj Kumar Sinha
(Sr. Officer, SPSIL)
(648 Points)
Replied 23 September 2016
Entry will be as below:
Bank/Cash A/C Dr.
To Loan A/C.
There will be no effect on Capital A/C.
Recent Topics
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
Related Threads
CAclubindia
