The company Acviv SRL is a Romanian juristic person and it has been incorporated according to the Company Law 31/1990. The company was incorporated on August 5th 2015 and its contributions to the registered capital were RON 200, deposited in cash, as well as a building amounting to RON 100,000 according to the evaluation made by a certified surveyor.
The Company Law 31/1990 makes possible contributions in kind under the condition that a contribution in cash should be made as well and the cumulated value of both types of subscriptions should be higher than the minimum statutory registered capital.
From an accounting point of view, contributions in kind shall be made at their fair value, which is usually ascertained by a certified surveyor.
Upon the incorporation of the company, the following postings are to be made for accounting:
456 ”Shareholders – amounts receivable related to capital” = 1011 „Subscribed and not paid in share capital” amounting to RON 200
5121 „Cash at bank in RON”= 456 ”Shareholders – amounts receivable related to capital” amounting to RON 200
212 „Buildings” = 456 ” Shareholders – amounts receivable related to capital” amounting to RON 100,000
456 ” Shareholders – amounts receivable related to capital” = 1011 „Subscribed and not paid in share capital” amounting to RON 100,000
1011 ” Subscribed and not paid in share capital” = 1012 „Subscribed and paid in share capital” amounting to RON 100,200 as at the date when the competent court passes its decision for the incorporation of the company.
In case the property is to be sold for a lower price than the price of acquisition, there is no obligation of diminishing the registered capital acc. to art. 414, par. (5) of the Accounting Ordinance of the Finance Ministry no. 1802/2014:
„The deregistration of assets that have constituted contributions in kind to the registered capital does not cause any modifications to the registered capital, except for the cases that are expressly stipulated by the current rules and regulations. All cases of registered capital modification shall be subject to a decision of the General Assembly of Shareholders, under compliance with the currently valid laws.“