Accountancy, asked by raoula9976, 11 months ago

Jain Ltd purchased machinery costing ₹ 10,00,000 from Ayer Ltd. 50% of the payment was made by cheque and for the remaining 50%, the company issued Equity Shares of ₹ 100 each at a premium of 25%. Pass necessary Journal entries in the books of Jain Ltd. for the above transaction.

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Answered by anamkhurshid29

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the company issued Equity Shares of ₹ 100 each at a premium of 25%. Pass necessary Journal entries in the books of Jain Ltd. for the above transaction.

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Answered by kingofself

$Bank drafts = 10,00,000*50/100 = 5,00,000\\Number of equity shares issued = 5,00,000/(100+25) = 4000 shares$

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