Cash Common Stock Paid in Capital
debit cash / bank 457000credit share capital 457000
debit cash / bank 1400000credit share capital 1400000
debit shares in companycredit services revenue
debit patent 92000credit shares in share capital 92000
Debit shares in companyCredit cash /bank
debit land 31000credit shares 10000credit premium 21000
Debit Cash / bankCredit Shares in share capital of business
Debit treasury stockCredit cash / bank
Debit Cash / bank 2500000 Credit Preference shares capital 500000 Credit Common share capital 2000000
You would make the journal entry the same way you would make it if they were not free shares. You would use the estimated or known value of the free shares to make the entry.
debit cash 70000000credit shares in share capital 5000000credit premium on shares capital 2000000
debit cashdebit promotional feecredit share capital