Accounting · Incorporation of a Company
When a company issues fully paid-up shares to promoters for services rendered during incorporation, which account should be debited in the journal entry?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Share Capital Account
- 2Goodwill Account or Incorporation Costs Account✓
- 3Preliminary Expenses Account
- 4Promoters Personal Account
Correct answer
Goodwill Account or Incorporation Costs Account
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