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    williambrabb's Avatar
    williambrabb Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Aug 28, 2007, 05:10 AM
    Paid In Capital - in kind contribution
    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's Avatar
    williambrabb Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Aug 28, 2007, 05:11 AM
    Quote Originally Posted by williambrabb
    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 Transferring ownership of computer hardware (market value of approximately $1600) and other office items to the company
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #3

    Aug 28, 2007, 09:12 PM
    Dr. Computer Hardware/Office Supplies 1,600
    Cr. Contributed Capital/Paid in Capital 1,600
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