my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

0 Answers  

---

How can we post Salary, PF etc., can anybody tell me the entry

15 Answers  

---

Short Answer on ___________Journal

2 Answers  

---

if cash deposited in to bank what will be entry?

3 Answers  

---

13. The firm has 20,000 common shares authorized, 15,000 shares outstanding, and 3,000 shares of treasury stock. How much common equity shares are issued. a) 2,000 b) 5,000 c) 17,000 d) 18,000

8 Answers   Capital IQ, FactSet Systems,

---

---

What was key roles of Cashflow statement and Fund flow statement and Balnsheet..?

0 Answers   Accenture,

---

what is taxation

4 Answers   ICICI,

---

How to maintain Purchase Orders ? Please explain by proper format.

0 Answers  

---

Suppose the production is more and sales less then what will happen

0 Answers   Telco,

---

Machinery Rate is 12000/- and residual value is 2000/- and life span is 10yrs.Calculate the dep in Straight line method.

8 Answers   Genpact,

---

Dear Sir, In A Purchase Function Hw can we justify The rate given by the supplier, dealerrs & mfgs are actual rate. is there any parameter.hw can we find the actual rate of particular items.

1 Answers   ABC,

---

Short Answer on -----Trade mark

0 Answers  

---