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Créé par AgExpert Support
Créé le 25 juil. 2012

Disqus Agexpert Accounting Questions Archive

We just incorporated so I have to transfer my cattle and Grain inventory to the corporate account. I have started a new set of book in the corporate name. How do I remove them from my personal Agriinvest and enter them into the corp. account? Any ideas?

  • RÉPONSE
    10 fév. 2025

    In the personal set of books, enter a general journal entry to credit the inventory account and debit a personal drawings account. In the corporate set of books, enter a general journal entry to debit the inventory account and credit the shareholder loans account. I highly recommend verifying these entries with the accountant beforehand and throughout the entire transfer.

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