My client incorporated his company but did not have separate bank accounts for his business( ugh!!)
Are the funds that are in his account on day 1 considered due to shareholder? Day 1 of the incorporation is also day 1 of the fiscal year so his year end for the proprietorship was done, taxes calculated etc so the funds belong to him and do not need to be i the business account once he sets it up. Any advise, thanks
Orignal From: What is the journal entry when a company changes from sole proprietor to limited?
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