Question

19. Rohn Lad. purchased Machinery from Rohan & Co. for 3,50,000. A sum of 75,000 was
paid by the means of a bank draft and for the balance due Rohit Lid. issued equity shares of
10 each at a premium of 10%. Journalise the above transactions in the books of Rohit Lid.​

Answer 1

Answer:

I). Machinery A/C. ....dr. 350000

To Rohan & Co. 350000

II). Rohan & Co. A/C. ...dr. 350000

To Bank A/C. 75000

To Equity share capital A/C.275000