Radhakrishnan (accountant) (55 Points)
23 June 2015Kindly help me that how to post entries when sole propreitor make a company , all the assets are transfer in to company.
Deepa reja
(Chartered Accountant)
(22 Points)
Replied 23 June 2015
Hi Radha Krishnan,
Here are some enteries that might can help you out-
In the books of Proprietor-
Profit on realisation a/c Dr (In case of profit on realisation)
To Assets (except Bank)
To Loss on realisation (In case of Loss on Realisation)
2. Transfer P/L on realisation to Propritor's Capital Account
Hope this might had helped u.
Thanx
CAclubindia
