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- Jul 31, 2010
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I need advise on how to transfer assets (equipment) from one corporation to another.
Both Corporations are owned by the same investor (1 individual) but they are seperate entities. He made some purchases from Corp 1 for items that are being used in the daily operations of Corp 2. He does not have the cash flow in corp 2 right now to pay back corp 1 and dosn't care to do so with cash. He wants to keep both corporation separate from each other
My thinking is to create an account or note payable in corp 2
and create an accounts receivable in corp 1? but am not sure!
Can I get some advise! Thank you
Both Corporations are owned by the same investor (1 individual) but they are seperate entities. He made some purchases from Corp 1 for items that are being used in the daily operations of Corp 2. He does not have the cash flow in corp 2 right now to pay back corp 1 and dosn't care to do so with cash. He wants to keep both corporation separate from each other
My thinking is to create an account or note payable in corp 2
and create an accounts receivable in corp 1? but am not sure!
Can I get some advise! Thank you
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