Question

Tisco Ltd. had 2,00,000 equity shares of 10 each, issued to the public on which ₹ 8 per share was paid up. The company had at that time ₹40,000 in Securities Premium Account besides the following reserves : Capital Redemption Reserve 2,00,000; Capital Reserve 1,60,000 and Reserve fund ₹9,20,000. The company decided to declare as much bonus as was sufficient to make the shares fully paid up. Give journal entires​

Answer 1

Answer:

Tisco Ltd. had 2,00,000 equity shares of 10 each, issued to the public on which ₹ 8 per share was paid up. The company had at that time ₹40,000 in Securities Premium Account besides the following reserves : Capital Redemption Reserve 2,00,000; Capital Reserve 1,60,000 and Reserve fund ₹9,20,000. The company decided to declare as much bonus as was sufficient to make the shares fully paid up. Give journal entires