Let's say I purchase a printer FOR MY CORPORATION and I pay with my own money, how do I record the transaction

Question

Let's say I go to Staples and I purchase a printer to use in my corporation and I pay with it with my own money, how would I record the transaction? Debit Office Equipment and credit what? Shareholder loan? Director's loan?

PS I'm the only shareholder in my corporation.

Answer 1

Hello, if you are the sole owner of your corporation, you are not a shareholder. The printer is a business expense and is a part of the cost of doing business. In your case, the most important reason to record it as an expense is for tax deduction purposes.

Answer 2

if you owe money to your company, like an officers loan, record it as a payment...