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Post Info TOPIC: New share issue
Bev


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New share issue
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A client of mine has issued 100 new ordinary shares to his wife. However his wife hasn't actually paid any money for the shares. How do I journal this in the accounts?

Thanks.



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Lillian


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Debit - Share Capital A/c
Credit - Directors Loan A/c

Lillian

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Bev


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Thanks Lillian.

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pxt


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Bev,

The Companies Act Balance Sheet layout refers to a specific account for unpaid shares

Called up share capital not paid

So you may prefer to create this balance sheet account and then post

Debit - Called up share capital not paid (Note it is an asset so a debit)
Credit - Share Capital

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Paul Taylor
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Online Accounting Software from Liberty Accounts
Bev


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Thanks for the tip Paul. I will do a journal to transfer it.

Bev

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