Directors/promoters have incurred preliminary expense from their own bank account.(since company is not in exist)
my doubt is wat is the jounal entry the company will pass to ratify the preliminary expense in companies books.
2 Replies
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 21 January 2015
you can adjust the money from the amount payable by the sigantories of the memorandum towards the capital they need to contibute.
Preliminary expenses A/c-- Dr
to Share Capital A/c
Recent Topics
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF UNCLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
