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    foreverking's Avatar
    foreverking Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 3, 2016, 10:00 AM
    Investment In S Corporation
    I am starting an S Corporation. My question is what entry I should do for my cash investment I see four accounts in my chart of accounts.
    Retained Earnings A/C (Equity Retained Earnings)
    Paid-in Capital A/C (Equity does not close)
    Common Stock A/C (Equity does not close)
    Dividends Paid A/C (Equity gets closed)


    I have to debit cash A/C and which A/C I should Credit?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Nov 7, 2016, 10:36 PM
    As you have contributed capital the obvious answer is paid in capital. As you know little about accounting I suggest you get a professional to keep your books
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