Accounting entry
This query is : Open
23 December 2016
Dear Experts,
Date of Incorporation of the Company is 25/02/2016, date of opening bank account is 04/04/2016. Director have deposited the money on account of share capital on 05/042016. I want to know 1) Whether I have to record share capital when i am preparing the balance sheet of f.y. 2015-16, under the head issued, subscribed and paid up capital ?
2) If i have to record then what will be the journal entry as money is given by directors on 05/04/2016 i.e in next financial years. Kindly resolve this query as soon as possible.
Date of Incorporation of the Company is 25/02/2016, date of opening bank account is 04/04/2016. Director have deposited the money on account of share capital on 05/042016. I want to know 1) Whether I have to record share capital when i am preparing the balance sheet of f.y. 2015-16, under the head issued, subscribed and paid up capital ?
2) If i have to record then what will be the journal entry as money is given by directors on 05/04/2016 i.e in next financial years. Kindly resolve this query as soon as possible.
23 December 2016
Dear Ajay, you are not required to pass the journal entry in FY 2015-16 as this transaction belongs to FY 2016-17 so amount received in bank will be recorded in bank in 2016-17 only
24 December 2016
Thanks to all for your valuable response.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Confusion around Form 26QB fields
- GST Regis.
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Tds on building rent monthly
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
