In accounting for a CORPORATION, how do you journalize an expense paid with your own PERSONAL CASH?

Example, I own a corporation and I paid OUT OF MY OWN POCKET $300 FOR OFFICE SUPPLIES. Do I debit OFFICE SUPPLIES FOR $300 and credit SHARE HOLDERS LOANS FOR $300??????? Is there another account I should CREDIT?

Debit Office Supplies and credit Accounts Payable to you. Then when the Corporation issues you a check for payment debit Accounts Payable and credit Cash!

Debit expense, credit Payables Control (the account payable would be yourself).
Then you can refund yourself from the company.
To do this you will need to open a a payables account in your name - this is the most common way of doing this.

http://loans.mamayek.com/cash.html

Tags

　　Offices to Lease 　　Rent Offices 　　Business Centers 　　Service Offices 　　Branch Offices 　　Temporary Offices 　　Shared Offices 　　Commercial Space 　　Office Space 　　Business Services 　　Business Address 　　Call Forwarding

Related information

What's the difference between a mapped drive and shortcut to the server?

as far as accessing the files there is no difference. However, some programs require the mapped drive (in your example x:\P15). When the porgram was created the developers didn't give i...

Would you share $30,000.00?

Hell, naw!!!!! The ticket was a gift, your gift and they shouldn't expect anything either. They probably they they were getting off cheap by just giving you a lotto ticket anyways, they didn...

Spyware pro!!! AM I SUPPOSE TO DELETE something from here???

Lets see if any of these online scans get rid of that file, if they don't we will delete it. Please run both of these online virus scans: Housecall<<<Put on 'Autoclean'...

How does hatred of what we are affect us?

I have tears in my eyes ,after reading this all. I can read real love and sorrow through the lines.Nobody should ever go through all this.Its horrid that family do these things. Where is the family...

What is THE STATUS OF WOMAN IN ISLAM ?

this article is too long first! ppl find it tiring to read so i hope u make it short and sweet next time. I am a muslim woman and i am being really really honest with u when I am saying that the st...

Should I approach and chat up the guy I like from my office tower?

Let me tell you, the #1 thing that I find attractive in girls: Confidence! The old stereotype of "guys have to ask the girl out" is long gone. Guys like it when girls take the initia...

Have i lost her?<PLEASE READ AND REPLY>?

Go talk to her and be honest about how you feel..........

...

What do i delete in this hijackthis log?

I check it.. Everything is clean. No suspicious program. What seems to be the problem? The computer might be slow because base on your log youve 2 AV running AVG Internet Security and Symantec. ...