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Question no 32 Chapter 1- Class 12 Part 2 Unimax
8,000 shares of @ ₹ 10 each were issued to the promoters at a premium of 10% for the services rendered by them. Give journal entry.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Formation exp. A/c | Dr. | 88,000 | |||
| To share capital A/c | 80,000 | ||||
| To Security premium A/c | 8,000 | ||||
| (Being 8000 shares reissued to promoters @ ₹ 10 each and 10% premium) | |||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question no 32 Chapter 1- Class 12 Part 2 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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