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Hey,
I just recently launched a company with 2 other cofounders. I have invested $10k into the company and they have both invested 0$ but they have invested a lot of time (worth way more than $10k).
We are creating the operating agreement right now and I am trying to decide how much we should write down. We want to show that each of us is an equal contributor to the company by putting $10k
each. What kind of financial implications does this have on our financial statements? Do we even need to count their initial contribution ( in services ) in the financial statements?
Thanks so much for your help.
I just recently launched a company with 2 other cofounders. I have invested $10k into the company and they have both invested 0$ but they have invested a lot of time (worth way more than $10k).
We are creating the operating agreement right now and I am trying to decide how much we should write down. We want to show that each of us is an equal contributor to the company by putting $10k
each. What kind of financial implications does this have on our financial statements? Do we even need to count their initial contribution ( in services ) in the financial statements?
Thanks so much for your help.