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And I suppose the easiest way to do this with bookkeeping is to have a separate asset for each capital expenditure and its corresponding accumulated depreciation account?
What if the startup costs are excessive, and the LLC won't be able to pay it back within a year or two? Would I just expense it on the LLC's books and then create an accounts payable to put the balance and pay it off as the LLC makes the money?
So let's say that I have spent $1,000 of my personal money prior to starting the LLC. Could I credit the $1k on my personal expenses and debit an investment in the LLC on my personal books; then the LLC books would have a $1k debit for for startup expenses and an additional $1k credit for capital contributions?
