2000 equity shares of rs.10 each were issued to x ltd from whom assets of rs.25000 were acquired.pass journal entry.
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quity share - 20000 dbt
debtors ac - 5000 dbt
To x litd - 25000
debtors ac - 5000 dbt
To x litd - 25000
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Answer:
Asset a/c .....Dr 25000
To x ltd a/c 25,000
(Being asset purchase from x limited)
X ltd a/c ......Dr 25,000
To share capital a/c 20,000
To security premium reserve 5,000
Explanation:
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