I have got a new client( small Ltd company), they added a new investor by giving him new shares for total consideration of £30k( 100 shares),however shares are above nominal value which is £0.0089 ( very odd for noimnal values).
My question is,how shall I deal with this big difference, post that to share premium account? Bank £30k ( debit), Share capital £0.89( credit), Share Premium account 29,999.11(credit) as difference?
Thanks in advance.
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+1
Although it might be worth checking out the subscription agreement, shareholder agreement and any other documentation. The expectations of the parties may not align with your description.