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Purchase of Coffee Shop Ltd

  • 24-05-2019 1:31pm
    #1
    Karachi
    Registered Users, Registered Users 2 Posts: 13 ✭


    Good afternoon. Can anyone explain in simple terms the tranactions and Jnls involved for purchase of Coffee Shop Ltd.

    Barney wants to purchase Coffee Shop Ltd.

    He pays 100K for same.

    Does the money go to the company bank account or straight to the shareholders.

    How do you reflect 100K purchase price in Coffee Shop Ltd?


Comments

  • #2
    Water John
    Registered Users, Registered Users 2 Posts: 21,808 ✭✭✭✭Water John


    Not an accountant but Barney is buying the shares in the Co from its owners. It has nothing to do with the business the Co happens to be in. Transfer of money would be between solrs accounts in exchange for share transfers, signed by Co Sec and with the Co stamp. These are registered with the CRO.
    Has nothing to do with the Co accounts or balance sheet, TMK.


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