Question

A company purchased assets worth 3 72,000. It issued fully paid-up
equity shares of * 100 each. Give Journal Entries, if the shares were
issued at par.​

Answer 1

Fixed asset a/c Dr. 72000
To share capital a/c. 72000
Share allotment a/c. Dr 72000
To Share allotment 72000
(Being 720 shares issued
@100 each)