Question

2,000 Equity Shares of ₹ 10 each  were issued to  Limited  from whom assets of ₹ 25,000 were acquired .
Pass Journal entry.

Answer 1

Journal

Date	Particulars		L.F.	Debit Amount Rs	Credit  Amount Rs
	Assets A/c	Dr.		25,000
	To X Ltd.				25,000
	(Assets bought from X Ltd.)
	X Ltd.	Dr.		25,000
	To Share Capital A/c				20,000
	To Securities Premium A/c				5,000
	(2,000 shares of Rs 10 each issued to X Ltd.)