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Purchase of Limited Company

  • Member PM.Dip
  • Practice Licence
  • 1 post
  • # 116048

Hello 

I was wondering if anyone would advise me with journal entries when one limited company purchase another limited company where buying price is set up as loan from buyer to seller and only part of selling price is paid by director from his own pocket so it was recorder on Director loan account, buyer have received the stock transfer form for the amount of buying price. Number of ordinary shares has not changed 1 share at £1.00 

Seller also left cash in bank account which was agreed to be separate loan to the buyer 

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