journal entry for issue of 1000 share of rupees 100 each to promoters of the company?
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A company generally purchases the assets for cash or on credit. Also, usually the shares are issued for cash. But, in some cases, a promoter may opt for purchasing the assets in exchange of shares.
It thus offers the fully paid equity shares to the vendor for the cost of the assets. If the vendor agrees, the company may issue him the fully paid shares. However, it may issue these shares at par or at a premium.
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