Issue of Shares For Consideration Other Than Cash

This is for class xii Accountancy students.  They  can learn about this topic easily and without memorizing the model journal entries. To attend my class, NCERT is needed. Surely this topic will be in your board paper. This is a repeated topic. There are more no of methods. I will say keyword to identify the particular topic as well for each method. In this topic we have two methods 1. Purchase of assets and 2. Purchase of business.  When we issue shares under this heading , in all the three conditions we can issue, at par, at premium and at discount.  In Purchase of asset method , first entry will be common for all the three methos namely at par, at premium and at discount. But the second entry will differ depend upon the method. In purchase of business first we need to write the assets, one by one in debit side and take all the liabilities and vendor  in credit side. Find the difference it may be in debit side(goodwill) or in credit side(capital reserve).