Question

sold 20 shares of xy and co. ltd at 65 per shares brokerage paid 20​

Answer 1

Answer:

The journal entry for the following is as follows:

Explanation:

For 20 shares of XY and Co. Ltd sold at 65 per share

Bank A/c.............................Dr    1,300

     To Shares in XY Ltd A/c.......Cr 1,300

Working Note:

Aggregate Amount = Number of Shares × Rate per share

                                = 20 shares × 65 per share

                                = 1,300

For Brokerage paid of 20

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

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