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Purchase land for the new project. The value of land is Rs 5000000. Thecompany issued equity shares to the landowner for Rs 3000000 and for balance amountpaid by cash. Prepare journal for issue of shares. |
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Answer» land AC Dr 5000000 to LANDOWNER AC 5000000 landowner Dr 5000000 to SHARE capital AC 3000000 to cash AC 2000000 |
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