Home› Accounting› Accounting Technical Support

Recording assets

NadsNads Member Posts: 3
How do you record personal cash that's invested into the physical construction of the business? I am having trouble determining whether that's recorded as building or as owners investment.
in Accounting Technical Support

Comments

  • MikegMikeg Member Posts: 995 ✭✭✭

    Nads,
    Actually both. So if you are building a physical structure for use in the business and using your personal funds to pay for it then you would debit Fixed assets and credit owners contributions
    Mike G, CPA
    www.,mgfinancial.net
    Better Service - Better Pricing

  • NadsNads Member Posts: 3

    Thank you Mike. :smile: The transaction now reflects on my balance sheet.

Sign In or Register to comment.