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Amrit Dhara Ltd. issued 800 Equity Shares of ₹100 each at a premium of 25%, fully paid up, in consideration of the purchase of plant and machinery of ₹1,00,000. Pass entries in the company’s Journal.
JOURNAL (Books of Amrit Dhara Ltd.)
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Plant and Machinery A/c Dr. | 1,00,000 | |||
| To Vendor A/c | 1,00,000 | |||
| (Plant and machinery purchased) | ||||
| Vendor A/c Dr. | 1,00,000 | |||
| To Equity Share Capital A/c (800 × ₹100) | 80,000 | |||
| To Securities Premium A/c (800 × ₹25) | 20,000 | |||
| (800 shares issued to the vendor at a premium of ₹25 per share, in full settlement) |
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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.39 - 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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