Help

Hi

Can anyone help. If a Director injects money into a business and then decides to take the money out. How would this be shown on the accounts?

Lynn

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  • coojee
    coojee Experienced Mentor Registered Posts: 794
    Lynn wrote: »
    Hi

    Can anyone help. If a Director injects money into a business and then decides to take the money out. How would this be shown on the accounts?

    Lynn

    Initial injection of cash is DR Bank and CR Directors Loan Account, then when he takes it out it's DR Directors Loan Account and CR Bank.
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