hi. there is a company XYZ LTD (Public Company). XYZ Ltd issued share to Mr.A of Rs 50 lacs for which no payment is made and in cosideration Mr A will provide some services to XYZ Ltd, but the value of services which is to be provided is uncertain. what is the accounting treatment?
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accounting treatment
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In the books of XYZ Ltd.
Particular service taken A/c Dr. 50 lakhs
Equity Share Capital A/c 50 lakhs
( Being Shares issued to A in return of service provided by him)
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