What is the entry of opening a bank account with cash
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Here,new bank account is for the business and the savings bank belong to the person bringing in the capital.
If the orignal was another bank account of the company it wouldn't be a savings account ..instead a current account,so the savings account doesn't belong to company. So it is a outside source( capital).
Bank a/c….Dr
To capital a/c
(Being capital brought in as transfer from savings account)
this is ur answer...☺️☺️
If the orignal was another bank account of the company it wouldn't be a savings account ..instead a current account,so the savings account doesn't belong to company. So it is a outside source( capital).
Bank a/c….Dr
To capital a/c
(Being capital brought in as transfer from savings account)
this is ur answer...☺️☺️
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