Kindly help me that how to post entries when sole propreitor make a company , all the assets are transfer in to company.
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Transfer of fixed assets sole proprietor to company
Replies (1)
Hi Radha Krishnan,
Here are some enteries that might can help you out-
In the books of Proprietor-
- 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
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