21 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 26 May 2011
one of our client started a pvt ltd company having share capital Rs. 100,000/-. date of incorporation 01/06/2010.
Bank A/c Dr. 100000
To Share Capital A/c 100000
praveen
(Chartered Accountant)
(6971 Points)
Replied 26 May 2011
How has he brought in the capital ?????
is Rs.100000 deposited by him towards sharecapital?
If yes then pass it to Credit Share Capital Account and Debit Bank Account
Others show as loan i.e Credit Director Loan Account and Debit respective fixed assets account
Devendra
(Chartered Accountant)
(4775 Points)
Replied 26 May 2011
before this date he had paid for office furniture Rs.100,000/-, laptop Rs. 50000/-, shop deposit Rs.100000/-.
Laptop A/c Dr. 50000
Furniture A/c Dr. 100000
To bank A/c 150000
Shop Deposit A/c Dr. 100000
To Bank A/c 100000
Devendra
(Chartered Accountant)
(4775 Points)
Replied 26 May 2011
on 01/08/2010 he deposited Rs. 100000/- from his personal account into company bank account.
Company Bank A/c Dr. 100000
To Personal bank A/c 100000
Angad kr kannaujiya
(Studant)
(169 Points)
Replied 26 May 2011
on 01/08/2010 he deposited Rs. 100000/- from his personal account into company bank account.
Company Bank A/c Dr. 100000
To Personal Loan A/c 100000
Nikhil
(CA-Final)
(45 Points)
Replied 26 May 2011
as Mr Devandra said every entry is accurate but as far as the last one is concerned i.e 100000 from personal to Companies a/c is better to be shown as Director loan
In the books Of Company
Bank A/c.......Dr
To (Name of Director) Loan A/c
And it will Be classified under Unsecured Loan
as director loan
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 26 May 2011
ENRY GIVEN BY DEVENDRA SIR IS CORRECT
Pradeep Kumar
(Article, CA Final)
(227 Points)
Replied 26 May 2011
ENTRY GIVEN BY MR.DEVENDRA SIR IS CORRECT
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 26 May 2011
Fully Agree wit all d entries given by Mr. Devendra above.
(Guest)
1. one of our client started a pvt ltd company having share capital Rs. 100,000/-. date of incorporation 01/06/2010.
ENTRY;
01/06/2010
CASH A/C DR. 100000/-
EQUITY SHARE CAPITAL A/C DR. RS. 100000
( NOTE :-BANK CAN NOT DE DEBITED AS, THE BANK A/C CAN BE OPEN AFTER SOME DAYS AFTER THE DATE OF INCORPORATION)
2. before this date he had paid for office furniture Rs. 100,000/-, laptop Rs. 50000/-, shop deposit Rs. 100000/-.
FURNITURE A/C DR. 100000/-
LAPTOP A/C DR. 50000/-
SHOP DEPOSITED A/C DR. 100000/-
TO LOAN FROM DIRECTOR ( NAME OF DIRECTOR) 250000/-
(NOTE :- ABOVE ALL ASSETS ARE PURCHASE PRIOR TO THE DATE OF INCORPORATION BY THE DIRECTOR AND AFTER THE DATE OF INCORPORATION ASSETS GIVEN TO THE COMPANY HANCE THESE WILL TREATED AS UNSECURED LOAN FROM DIRECTOR ( MAY BE INTEREST FREE , QUASI EQUITY), HENCE BANK WILL NOT CREATED AS THE ASSETS WAS PURCHASED BY THE DIRECTOR NOT BY THE COMPANY).
2. on 01/08/2010 he deposited Rs. 100000/- from his personal account into company bank account.
01/08/2010 BANK A/C DR. 100000
TO LOAN FROM DIRECTOR ( NAME OF DIRECTOR 100000/-)
FOR ANY FURTHER CLARIFICATION PL. MAIL AT rajeshjiv @ gmail.com
Vijayaraghavan
(Junior Accounts Officer)
(26 Points)
Replied 27 May 2011
the last one entry should be considered this way
Company Bank A/c. Dr. 100000
to Directors Loan A/c. 100000
(Unsecured Loan)
because, Directors given to company for any amount its treated as Unsecured Loan
you can't take a Creditors and Debtors
CA Anil Agarwal
(Practicing CA)
(67 Points)
Replied 27 May 2011
as the total authorised capital of company is Rs.100,000 the following entries will be passed in the books of the company
1. Bank A/c Dr 100,000
To Share Application A/c 100,000
2. Share Application A/c Dr 100,000
To share Capital A/c 100,000
3.Furniture A/c Dr. 100,000
Laptop A/c Dr. 50,000
Security Deposit A/c Dr. 100,000
To Unsecured Loan A/c 250,000
Rup Kumar
(finance manager)
(288 Points)
Replied 28 May 2011
ENTRY;
01/06/2010
CASH A/C DR. 100000/-
EQUITY SHARE CAPITAL A/C DR. RS. 100000
FURNITURE A/C DR. 100000/-
LAPTOP A/C DR. 50000/-
SHOP DEPOSIT A/C DR. 100000/-
TO LOAN FROM DIRECTOR ( NAME ) 250000/-
01/08/2010 BANK A/C DR. 100000
TO LOAN FROM DIRECTOR ( NAME OF DIRECTOR 100000/-)
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