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-   -   Accounting Journal Entry Qs help (Beginner) (https://www.askmehelpdesk.com/showthread.php?t=547083)

  • Jan 23, 2011, 12:10 PM
    hello_19
    Accounting Journal Entry Qs help (Beginner)
    Hi I'm just having a little trouble with journal entries help. What will be the credit when someone opens a bank account under the companies name and deposits 1000 dollars of his own money. I know its owners Equity but what account under OE section
  • Jan 23, 2011, 12:13 PM
    Just Looking

    The Capital account is credited.
  • Jan 23, 2011, 12:13 PM
    pready

    The person opening the bank account for a company should be the owner or opening the account for the owner.

    If the company is not a corporation the Credit entry will be to the owners capital account.

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