Question

he authorised capital of X Ltd. is 15,000 Equity Shares of T 10 each. Out of which 8,000 Equity Shares of 10 each are fully paid-up and 2,000 Equity Shares of 10 each have been called and paid-up 7 per share. The company has the following balances a) Securities Premium Reserve (b) General Reserve (c) Balance in Statement of Profit & Loss 5,000 18,000 47,500 The company has decided in a general meeting to capitalise Securities Premium and General Reserve in full and part of the Balance in Statement of Profit& Loss is necessary for this ) Bonus on the partly purpose by issuing: paid-up shares in order to make them fully paid up; and i) One bonus share at a premium of 2 for every two fully paid Equity Shares held. Show the Journal entries to record the transaction​

Answer 1

Answer:

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