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williambrabb
Aug 28, 2007, 05:10 AM
we are a small business
instead of $ one of the partners is ownership of computer hardware (market value of approximately $1600) and other office items to the company.

I would like to have this contribution eventually show as Paid in Capital (GL account #39004).

Any suggestions as to how I can reflect this in our accounting system (peachtree premium 2007) would be appreciated.
williambrabb
Aug 28, 2007, 05:11 AM
we are a small business
instead of $ one of the partners is ownership of computer hardware (market value of approximately $1600) and other office items to the company.

I would like to have this contribution eventually show as Paid in Capital (GL account #39004).

Any suggestions as to how I can reflect this in our accounting system (peachtree premium 2007) would be appreciated.
the post should read

"instead of $ one of the partners is TRANSFERING ownership of computer hardware (market value of approximately $1600) and other office items to the company
CaptainForest
Aug 28, 2007, 09:12 PM
Dr. Computer Hardware/Office Supplies 1,600
Cr. Contributed Capital/Paid in Capital 1,600