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J company purchase a machine from high life machine ltd. For Rs.3,80,000.As per purchase agreement .Rs.20,000 were paid in cash and balance by issue of share of Rs.100 each.what will be the entry passed if the share are issued: (a):At par (b):At 20% premium

Posted by Ritik Joshi 8 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Saurabh Rastogi 8 years, 3 months ago

High life machine Dr 3,60,000 To share capital AC. 3,60,000 At premium High life machine Dr. 3,00,000 To security premium reserve AC. 60,000 To share capital AC. 3,60,000

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