I would like some help regards share capital double entry.
I am preparing company financial statements and my clients used personal account for business purpose. I cheched companies house and he issued 1000 shares with £10 amount paid. I am not sure about double entry of these transactions.
What prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.
Also please you add your first name so that it appears under the signature bar on your posts. Saves everyone looking it up each time!! (Edit profile --->signatures).
or not!
-- Edited by Cheshire on Tuesday 24th of July 2018 05:06:15 PM
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I dont think you should be doing any entries for this based on the information given.
Hi Joanne
It does beg the question as to whether the shares have been paid for. Quite a hefty tax bill if not (unless hopefully it is only £10 total and not £10000)
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
