Doubt on partnership

Accountancy

For the capital that the partners had brought in can I write it as a balance brought down or should I write it as by Bank ? If bank A/c , why not balance b/d ?

sradha krishna sunil

CA Final

★ 5K+

03-Sep-22 17:26

665

Answers (2)

Best Answer

If the capital amount pertains to the last year, it will be written as By balance b/d (opening balance of current year, which was the closing of the last year). But ,in this case the capital is newly introduced in this year. So that , it is shown as By Bank a/c Journal entry: Bank a/c Dr. 30000 To capital a/c. 30000

Kavin Kumar

CA Inter

★ 2K+

03-Sep-22 17:34

You need to understand that only journal entries are posted on to ledger A/c's. Opening balance cannot simply jump in out of nowhere...

Hardik Pandya

CA Final

★ 5

03-Sep-22 19:13