Shiva Ltd. issued 1,00,000 Equity Shares of ₹ 10 each at a premium of ₹ 5 per share. The whole amount was payable on application. The issue was fully subscribed. Pass necessary Journal entries.
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Answer:
share of shiva Ltd a/c DR. 500000
to shiva Ltd a/c 500000
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1
Calculation of share capital:
Share capital= No of shares x (face value +premium)
= 100000 x (10 +5)
= Rs 15,00,000
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