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The Accounting treatment or Journal entry if a new startup company. If the owner has purchased an asset for the company? with his personal cash

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Question added by Deleted user
Date Posted: 2017/11/01
Muhammad Haris CIMA
by Muhammad Haris CIMA , Accountant , Majalat

Asset---------------------Dr.

Capital/Equity-------------------Cr.

Sadeeq Akbar
by Sadeeq Akbar , Accountant , NRS International

Dr Asset

Cr Capital/Investment in Business

Khateeb Hussain
by Khateeb Hussain , Senior Branch Accountant , Medicas International

Asset account debit and share capital account credit with the amount of asset. (this will be shown under the category of shares issued against consideration paid other than cash in the notes to the financial statement).

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