Question

Ripon Ltd. bought back its 2000 Equity shares of Rs.50 each at Rs.47 per share.On that date the company head Rs.80000 in General reserve and Rs.30000 in securities premium. Show journal entries.

Answer 1

Answer:

1 Started business with cash.2 Bought goods for cash .....3 Sold goods for cash.5 Sold goods to Shravan, Delhi3 Bought goods on credit from Anurag, Ka

npurGoods returned to Anurag ...Sold goods for cash2 Paid electricity bill ..........********************************************