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Post Info TOPIC: Share capital double entry


Newbie

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Share capital double entry


Hello

 

I would like some help regards share capital double entry.

 

I am preparing company financial statements and my clients used personal account for business purpose. I cheched companies house and he issued 1000 shares with £10 amount paid. I am not sure about double entry of these transactions.

 

Please, could you advise me.

 

Many thanks



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Senior Member

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The usual professional intro will be good.

Are they definately paid? Checking companies house, which carries the usual pile of rubbish isn't enough clarification I'm afraid.

1000 shares at £10 each nominal?

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Caron



Master Book-keeper

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Casu wrote:

The usual professional intro will be good.

Are they definately paid? Checking companies house, which carries the usual pile of rubbish isn't enough clarification I'm afraid.

1000 shares at £10 each nominal?


 Beat me to itbiggrin



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Master Book-keeper

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Intro we look for, to save you looking it up...

What prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.

Also please you add your first name so that it appears under the signature bar on your posts. Saves everyone looking it up each time!! (Edit profile --->signatures).

 

 

or not!



-- Edited by Cheshire on Tuesday 24th of July 2018 05:06:15 PM

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Senior Member

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Posts: 359
Date:

or 1000 at 1p?

as well as the other questions what software are you using

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Caron



Master Book-keeper

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Posts: 8646
Date:

Casu wrote:


 what software are you using


 

Doesnt look like we are going to get the answers.

 

Shareholders using personal account will get them in trouble, but the shares cannot be paid for in that scenario anyway.  Bit of a mess.

 

edited to correct typo



-- Edited by Cheshire on Wednesday 25th of July 2018 12:36:08 PM

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Newbie

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Posts: 2
Date:

I am using quickbooks.

I know that with the personal account is so messy that why i told client open business account.

 

 



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Master Book-keeper

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Date:

And the other Qs/points raised Donna?

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Master Book-keeper

Status: Offline
Posts: 8646
Date:

I dont think you should be doing any entries for this based on the information given.



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Master Book-keeper

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Posts: 3904
Date:

Cheshire wrote:

I dont think you should be doing any entries for this based on the information given.


Hi Joanne

It does beg the question as to whether the shares have been paid for.  Quite a hefty tax bill if not (unless hopefully it is only £10 total and not £10000)



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.

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