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Investment property
I hold 100% shares of a resident company. During 2010 I decided to transfer a flat that was purchased by me in 2000 to the company. The problem now is that I do not know how to record the above mentioned transaction in my accounting records and financial statements.
you can show investment in your accounting record. the cost of investment will be fair value of flat at the time of transfer of flat to the company. company can also issue more share to you equal to the fair value of the flat
thanks  and what about depreciation?
Depreciation will be charged as per company policy from the date of acquisition of the flat by company until the date of write off of flat.
And what happens now in 2012 that i have decided to sell the flat?
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