balance the Opening Balance

Question

1849 viewsApril 4, 2018Accounting

0

Anonymous Posted April 2, 2018

Hello Madan,
To balance the Opening Balance, Sales and Taxes charged on sale, is it correct to credit the Capital Stock account?
Thank you
Ali

1 Answer

score 0 · Answer 1 · 2018-04-04T14:46:58+00:00

Hi, no, this is not correct. Share capital should be equal to the monies received by the corporation for the issuance of shares in the capital stock of the corporation to shareholders.

balance the Opening Balance

1 Answer

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