Question

x LTD. purchase sundry assets from vinay of RS. 900000 and which payment made by equity share of RS.100 each.​

Answer 1

Answer:  MACHINERY A/C   DR                 900,000

                    TO VINAY LTD                                                  900,000

   ( BEING machinery purchased )

               VINAY LTD                                    900,000

                   TO SHARE CAPITAL                                          900,000

(being 9000 shares issued )

Explanation:

purchase consideration / share value = 900,000/100=9000 shares