A new co has been incorporated & thereafter purchased by another individual. How to make entries for share allotement to the promoters as the minimum requirement of paid up equity capital for Privaye Limited Co is Rs 1lacs & how book enties preliminary exp in the same case.
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How to make adj for purchase of new co
Replies (1)
In case a new company is purchasing the old company's Entire share then the same will become the subsidiary of the earlier one.
The parent co. will shoe this transaction as the investment in the subsidiary on the Assets side of the Balance Sheet
Entry will be .......
Investment in the Subsidiary(Name of the Subsidiary)___________Dr.
To Cash/Bank
Sunil
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