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Sona Ltd purchased machinery of Rs. …

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Sona Ltd purchased machinery of Rs. 10,00,000 and furniture of Rs. 5,00,000 from mona Ltd. Sona Ltd paid 40% of the amount by the cheque and for the balance amount by issue equity share of Rs 10 each at the premium of 20%. Pass necessary journal entries to record the above tranctions in the book of sona Ltd.

Posted by Sakshi Kataria 7 years, 11 months ago

CBSE > Class 12 > Accountancy

1 answers

Vaishnavi Srivastava 7 years, 11 months ago

Machinery A/c Dr. 1000000 Furniture A/c Dr. 500000 ToMona Ltd 1500000 (Being assets purchased) Mona Ltd. A/c Dr. 1500000 To bank A/c 600000 To equity share cap.A/c 750000 To security prem 150000 (Being amt. paid by issuing 75000 equity share of 10each @20percent prem. and 40 percent By cheque)

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