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Preliminary expenses

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2014 What is the journal entry for capitalization of preliminary expenses?

If it is Preliminary Expenses Dr
To Cash/Bank


What is the logic behind affecting cash/Bank account for the expenses which are incurred before the incorporation of the company?
What if at the time of incorporation of the company, the firm doesn't have a bank account?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
09 September 2014 exp is incurred and cash or bank is paid time is not relevant for this entry as money is going out

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