Advertisement Remove all ads

2,000 Equity Shares of ₹ 10 Each Were Issued to Limited from Whom Assets of ₹ 25,000 Were Acquired . - Accountancy

Journal Entry

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

Advertisement Remove all ads

Solution

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.)

 

 

 

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 1 Accounting for Share Capital
Exercise | Q 27 | Page 117
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×