A purchased 100% shares of B Corp from B Corp's shareholders for $1M with a bank loan of $0.5M. How this transaction would be recorded in B Corp's book? Journal Entry?

Hi there kate77_k-hotmail,

It's important that all your transactions be entered correctly for your books to be well balanced. QuickBooks online is a great tool able to help you keep track of sales and expenses so you can see the profit of your company. I can point you in the right direction for assistance with entering this in your books.

To know what transaction type to use to enter this transaction, as well as what accounts it should affect, I recommend speaking with your accountant. Their expertise will be able to assist you in recording this money movement in your books correctly so that your account balances can be accurate. You can invite your accountant to your QuickBooks account by going to the My Accountant tab and then entering their contact information. You can also find an accountant who has experience using QuickBooks by going to that section and clicking the Find a Pro to Help button.

If you have any other questions, feel free to reach out here.