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Apr 02, 2018 11:06 pm
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
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Apr 04, 2018 2:46 pm
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.