Accounting entries for a one person company

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Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2015 What are the opening entries in the books of a one person company, when a proprietorship is converted into a one person compnay?

Pratik Shah

Pratik Shah (Expert)
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25 May 2015 There is no direct procedure to covert sole proprietorship to OPC. It has to be like OPC (after incorporation) will take over the business of sole proprietorship. Hence, you need to look at Accounting treatment which is given for Takingover of the business.

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Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2015 Dear sir, thank you for your kind explanation. Can u please tell the details regarding the forms to be submitted to the ROC for the assets taken over by the OPC?