B.pharam Ltd purchase Machinery worth 100000 from d .Pharma ltd.55000 was paid by issue of 8%prefernce shares of 10 each at premium of 10% the balance was paid in the cash by cheque pass necessary journal entries in the books of B Ltd.
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Explanation:
Machinary a/c dr 100000
To preference cap 50000
To seu premium. 5000
To cash 45000
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