I started a company 5 years back nd it did failry well. So, 3 years back started another company as i wanted to separate activities
I took funds from company A and used it as a loan to start company B, which means company B owes company A (loan)
Now, the balance sheet on company B does not look good as a result of the loan in liabilities.
I want to convert the loan into Share Capital on company B's books. in that way the company balance sheet will be better.
How do i deal with the loan in company A? Can i write it off or whats the appropriate way