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    hello_19's Avatar
    hello_19 Posts: 8, Reputation: 1
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    #1

    Jan 23, 2011, 12:10 PM
    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
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Jan 23, 2011, 12:13 PM

    The Capital account is credited.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #3

    Jan 23, 2011, 12:13 PM

    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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