Entry For Stock Purchase of Company in Exchange for Note Payable

by Linh
(Virgina)

We are considering purchase of company from existing owner. It is sub chapter S. We get the stock and pay the owner cash and he takes back a note payable. How are these entries done?

Thank you.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Accounts Payable Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.


Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.


Like Bookkeeping-Basics.net?