Preoperative expenses paid by director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2013
Hello,
A pvt limited company was formed in july 2012 and its bank account was only opened in march 2013.
In this mean time, all the preoperative expenses was paid by the promotore shareholder/director from his savings account.
The company has still not gone into operations.
What should be the journal entries for this?
A pvt limited company was formed in july 2012 and its bank account was only opened in march 2013.
In this mean time, all the preoperative expenses was paid by the promotore shareholder/director from his savings account.
The company has still not gone into operations.
What should be the journal entries for this?
23 March 2013
you can book the expenses and reimburse to them or treat as part of share capital amount and balance you can receive as cash or cheque from them
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