Acctounting Question: Initial Capital Contribution

[Hugh Esco <..hidden..>]

In the Operating Agreement for a newly formed company it speaks of the
initial capital contribution of the founding partners.  That investment
was made in a combination of cash and sweat equity.  The Agreement
later includes a provision providing for a 'Set Price' meant to
monetize that initial capital investment.  

My question relates to how this set price ought to be "memorialized and
made a part of the LLC records" as required.  I'm guessing that I want
to create a GL entry.  I understand how to balance the 'Common Shares'
account with the 'Checking Account' as a GL entry.  But I'm wondering
how it is I make a balanced GL entry giving credit in Common Shares for
the unpaid sweat equity invested in the start-up.

Any accountants in the house who'd be willing to share with me how they
would proceed?  Your help would be appreciated.

-- 
Hugh Esco 
http://www.CampaignFoundations.com/
Providing Application Hosting, 
Telephony and IT Development Services 

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