Results 1 to 2 of 2

Thread: Opening inventory using members loan

  1. #1
    Junior Member
    Join Date
    Mar 2017
    Location
    Durban
    Posts
    11
    Thanks
    0
    Thanked 1 Time in 1 Post

    Opening inventory using members loan

    How do i bring in physical inventory items in our stock holding that wee brought in by one of the owners (he purchased it himself so it will have to reflect on the loan account)?

  2. #2
    Junior Member
    Join Date
    Feb 2017
    Location
    zimbabwe
    Posts
    11
    Thanks
    0
    Thanked 0 Times in 0 Posts
    hi,

    Debit Inventory and Credit Onwer's Capital A/c (ie Journal In your stock and contra with the Owner's Capital A/c)

Similar Threads

  1. [Question] Members Loan Accounts
    By Nick.Roberts in forum Business Finance Forum
    Replies: 7
    Last Post: 23-Feb-17, 10:52 PM
  2. [Question] Members loan accounts
    By maureen@global.co.za in forum General Business Forum
    Replies: 6
    Last Post: 30-Jun-14, 10:03 AM
  3. Members loan payout
    By JENI in forum General Business Forum
    Replies: 5
    Last Post: 16-Mar-13, 12:45 PM
  4. [Question] Deemed dividends of members loan
    By B Allen in forum Tax Forum
    Replies: 3
    Last Post: 14-Mar-13, 03:34 PM
  5. [Question] Members loan account
    By vtnoracle in forum Accounting Forum
    Replies: 12
    Last Post: 27-Feb-12, 06:48 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •