V vladiator Apr 9, 2003 #1 If one of the LLC members made a loan via a promissory note to the LLC, is that considered to be a cash contributed to partnership capital? Thanks.
If one of the LLC members made a loan via a promissory note to the LLC, is that considered to be a cash contributed to partnership capital? Thanks.
T trdrmac Apr 9, 2003 #2 Vlad, I looked at this for a partnership and I think the answer is that it should be kept separate. So the entry would be Cash XXXXX Note Payable Partner Joe XXXXX
Vlad, I looked at this for a partnership and I think the answer is that it should be kept separate. So the entry would be Cash XXXXX Note Payable Partner Joe XXXXX
