Please Help: Accounting Treatment

Posted Date : 29-May-2012 , 06:13:44 pm | Posted By Ashish

(In case of Properitor) If a person who is a unecured loans get died. So what will be the Accounting Entry. Can we give the effect in capital Account??

Category : Accounts | Answers : 1 | Comments : 1 | Hits : 219

Answers

Answer By: Rishabh Upadhyay

In case the amount was shown as unsecured loan then in the event of death of loan provider, his/her legal hire are in the capacity to ask for repayment of the same. in case proprietor himself is the legal hire then the same can be added in the capital of the proprietor