Question

Bought 50 shares in xy and co.ltd at 60 per share brokerage paid 20​

Answer 1

Answer:

The journal entry is as follows:

Explanation:

For 50 Shares bought in XY and Co. Ltd at 60 per share

Shares in XY Ltd A/c..................Dr    3,000

          To Bank A/c.............................Cr   3,000

Working Note:

Aggregate Amount = Number of shares × Rate per share

                                = 50 shares × 60 per share

                                = 3,000

For Brokerage paid of 20

Brokerage A/c.....................Dr    20

           To Bank A/c...................Cr   20

Answer 2

Answer:

shares on xy & co a/c 3020

to cash a/c 3020

hope it helps u