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racheas


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accounting for gifts?
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how does one account for gift of money to a small business? it is the owner's husband, and it is not a loan to be repaid and he wishes no interest/stake in the business, just wants to help his wife through some tough times. There are no employees (as yet), the monies are going towards purchase of updated equipment and advertising. 

 

Thanks



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FoxAccountancyServices


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It would just come in through the director/capital account, being an injection of capital from the owners household.

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