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  

---

what is minut

4 Answers   Capital IQ,

---

what is accouting standard? pl give the list of accouting standard.

2 Answers  

---

how important of purchase and sales invoices?

2 Answers   CTS,

---

current depriciation rates for fixed assets

1 Answers  

---

vwhy a variable cost is said to be variable?

6 Answers  

---

what is the journal entry? goods purchased by ram on credit for 1000 which includes vat rs.100 in it

19 Answers   IBM, Shreyas,

---

What are the 3 Basic Rules in Accounting.

167 Answers   AAA, ABC, Accenture, Amba Research, Birla Sun Life, CTS, CWDF, DELL, Franklin Templeton, iGate, IHP, JPMorgan Chase, Lexi Pens, Mastek, Trinity Technologies, VC Engineering,

---

What is Contigent Liability?

3 Answers  

---

What do you mean by Mutual Funds ? Types

5 Answers   BNP Paribas, Capital IQ,

---

Expand---------PCDB

0 Answers   HCL,

---

what is treasury stock

3 Answers   Capital IQ,

---