11. J. P. Ltd. purchased building costing 70,00,000 from M/s Construction Ltd. The company
paid 20,50,000 by cheque and for the balance issued equity shares of 100 each in favour
of M/s Construction Ltd. Pass necessary Journal entries in the books of J.P. Ltd. for the
purchase of building and making payments if shares were issued at a premium of 25%.
Answers
Answered by
9
Answer:
Building a/c dr. 7000000
To m/s construction AC 7000000
M/s construction AC dr. 2050000
To Bank AC 2050000
M/s construction AC dr. 4950000
To equity share capital AC 3960000
To securities premium ac 990000
Explanation:
Similar questions