Question

U.k Limited was incorporated with an authorised share capital of 100000 equity shares of rupees 10 each the company directors decided to allot 12000 shares it was fully paid to the promoters for their services company also purchase land and building for X Limited for 300000 payable in fully paid of shares of the company the balance of the shares are issued to the public which were fully subscribed and paid for .you are required to pass journal entries

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Answer 1

UK Limited was incorporated with an authorised share capital of 100000 equity shares of of rupees 10 each the company direction decided to allot 12000 Shades it was full paid to the promoters