1) A company increase their paid up & authorized capital from $100,000 to $1.0M. The directors only pump in $807K. So now the balance sheet shows only $907K for the capital. Meantime there is an outstanding balance of $94,368.74 in the "Amount Due to Director" account. So can I put a journal to transfer the amount from the account to capital account?

2) The company also bought a property from a developer. Currently the property is under construction and the company start paying progressive payment upon work completion in stages. So can I recognized this property as an asset even it's not fully completed? Each time progressive payment made I Dr - Asset and Cr - Bank account. Is this a correct entry?

Thank you