A Company issue 5,000 share of Rs. 100 each at 10% discount to purchase the following assets.
| Plant & Machinery | Rs. 4,00,000 |
| Debtors | Rs. 1,00,000 |
| Inventory | Rs. 20,000 |
Required: Journal entries for assets purchase by issuing shares.
Ans: Capital reserve Rs. 70,000
Asked Years
