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Accounting entry passed date in books

kollipara sundaraiah (B.com) (1562 Points)

24 October 2021  
a person new business strated dt:20-10-21
1 capital investment in firm rs:15 lacs dt:20-09-21
2.purchases of furniture and others value rs:3 lacs dt:04-10-21
3.bank account opening dt:17-10-21.rs:3000/-deposit cash
question:
assess accounting entry passed in books different dates or all transactions business strated is correct method.

 6 Replies

yasaswi gomes (My grammar is 💯 good I)   (6493 Points)
Replied 24 October 2021

There is an act in companies act which says about minimum capital required in which office furniture falls. Report them as per the dates and nothing will happen. 

Sourav (Student) (23781 Points)
Replied 24 October 2021

1. Cash a/c dr
to Capital a/c

2. Furniture a/c dr
to Bank a/c

3. Bank a/c dr
to cash a/c

Cash a/c dr
to bank a/c

sabyasachi mukherjee (6640 Points)
Replied 25 October 2021

Sorry no such section is there.

yasaswi gomes (My grammar is 💯 good I)   (6493 Points)
Replied 25 October 2021

Maybe no section but things will be like this https://www.dlapiperintelligence.com/goingglobal/corporate/index.H T M L?t=03-minimum-capital-requirement&c=IN

it is true, and regarding furnishing some articles are there like this https://www.startupindia.gov.in/content/sih/en/reources/startup_india_notes/regulations_and_policies/compliance_for_registered_office.H T M L

However, I read it somewhere maybe workplace safety and hazard related acts about cabins or furniture etc. I can’t remember it

sabyasachi mukherjee (6640 Points)
Replied 25 October 2021

Not relevant

yasaswi gomes (My grammar is 💯 good I)   (6493 Points)
Replied 25 October 2021

I guessed it. Mr. kollipara, just record off the transactions. Nothing will happen. Don’t worry about the dates as well. Create company in erp and then enter the transactions by date. And it is finished and ready for filing by the year end.


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