Question

Alankrit Ltd. purchased machinery of 10,00,000 from G
d. purchased machinery of 10,00.000 from Grand Iron Works Ltd. and paid as follows:
(al issued 50,000 Equity Shares of 10 each at a premium of 2.
(b) Gave an acceptance of 3,00,000 payable after 3 months; and
a Balance by issuing post-dated cheque of two months of 1,00,000.
Pass the Journal entries in the books of Alankrit Ltd. and Grand Iron Works Ltd.​

Answer 1

Answer:

machinery a/c dr 10,00,000

to grand iron Ltd 10,00,000

grand Ltd a/c dr 10,00,000

to share capital 5,00,000

to SPR 1,00,000

to bills payable 3,00,000

to bank 1,00,000

Answer 2

Answer:

Explanation:

Same