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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
2,000 Equity Shares of ₹10 each were issued to X Ltd., from whom assets of ₹25,000 were acquired. Pass the Journal entry.
JOURNAL
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| 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 (2,000 × ₹10) | 20,000 | |||
| To Securities Premium A/c | 5,000 | |||
| (2,000 shares of ₹10 each issued to X Ltd. at a premium of ₹2.50 per share) |
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 "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.38 - Share Capital", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 1 - Share Capital.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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