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Journal entry for unpaid share capital - Director

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Hi,

I am preparing accounts and would like to know if my journal entries are correct for the unpaid share capital by the director.

Dr DLA

Cr called up share capital unpaid.

 

Any help will be greatly appreciated.

Parmar

 

Replies (7)

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By Duggimon
25th Jul 2019 14:44

If you debit the DLA with the value of the shares then they're paid, not unpaid.

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By March19
25th Jul 2019 14:52

Hi,

Thank you for your reply. So what would be my entries? Fist year it has not been paid but when I prepare my next accounts I will make sure that it will be paid.

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By March19
25th Jul 2019 15:20

Okay, so my new entries are,

Dr called up share capital not paid
Cr Issue of New Equity Share Capital at Par

and next year once the payment is made,

Dr Bank
Cr called up share capital not paid

Please advise if these entries are correct

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By pawncob
25th Jul 2019 16:00

It'll do.

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By March19
25th Jul 2019 16:03

Thank you

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Out of my mind
By runningmate
25th Jul 2019 16:01

I think King Lear has the answer, "Nothing comes of nothing".
If nothing has happened there are no journal entries required!

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By March19
25th Jul 2019 16:04

Hi

Sorry I did not understand your reply. The shares were unpaid in the first year and will be paid the next year

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