Preoperative expenses paid by director

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2013 Hello,
A pvt limited company was formed in july 2012 and its bank account was only opened in march 2013.
In this mean time, all the preoperative expenses was paid by the promotore shareholder/director from his savings account.
The company has still not gone into operations.
What should be the journal entries for this?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 March 2013 you can book the expenses and reimburse to them or treat as part of share capital amount and balance you can receive as cash or cheque from them

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