Transfer of fixed assets sole proprietor to company

Hi Radha Krishnan,

Here are some enteries that might can help you out-

In the books of Proprietor-

1. Liabilities a/c Dr

          Profit on realisation a/c Dr  (In case of profit on realisation)

                To Assets (except Bank)

                 To Loss on realisation (In case of Loss on Realisation)

    2. Transfer P/L on realisation to Propritor's Capital Account

Hope this might had helped u.

Thanx