Why we won't write person name in opening entry,
For example, Gopal started a business with cash 5000rs/-
entry will be
Cash A/c Dr
To Capital A/c
Why we won't write
Cash A/c Dr
To Gopal A/c
Thanks in advance
Chintu... (Student) (82 Points)
20 August 2017Why we won't write person name in opening entry,
For example, Gopal started a business with cash 5000rs/-
entry will be
Cash A/c Dr
To Capital A/c
Why we won't write
Cash A/c Dr
To Gopal A/c
Thanks in advance
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 20 August 2017
Luvish Jain
(Tax Consultant)
(507 Points)
Replied 21 August 2017
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5179 Points)
Replied 23 August 2017
The business entity personal entity is different. Generally we do not write our name in our business books. We write other names to easily identify. For example In partnership business we writer partners capital account with their names for easilty identity purpose.
Rahul Pathan
(business)
(34 Points)
Replied 25 August 2017
Debit all Assets
Credit All Liabilities
By this way, the balances of all ledgers can be carried forward
For Vistt:-https://www.profsindia.com/topic/opening-entry/#post-7301
Registerexperts.com
(company registeration)
(34 Points)
Replied 12 September 2017
Debit all Assets Credit All Liabilities By this way, the balances of all ledgers can be carried forward For Vistt:-https://www.profsindia.com/topic/opening-entry/#post-7301