Z ltd was registered with an authorised capital of 6000000 divided in 60000 equity shares of 100 each.Company issued 25000 equity shares at a premium of 20 per share payable as follows:30 on application ;45 on allotment(including premium); 20 on first call and 25 on second call. All shares were subscribed and all the money was duly received. Share issue expenses amounted to 40000 which were full written off against securities premium. Prepare journal entries..
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journals
1.
bank account debit to share application account 750000
2.
share application account debit to share capital 750000
3.
share allotment account debit 625000
securities premium account debit 500000
to share capital1125000
4.
bank account debit to share allotment account 1125000
5.
share first call account debit to share capital 500000
6.
bank account debit to share first call account 500000
7.
share second and final call account debit to share capital 625000
8.
bank account debit to share second and final call 625000
9.
priliminary expense account debt to securities premium account 40000
Answered by
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Answer:
share capital : ₹ 500000 ; cash at bank : ₹ 490000
Explanation:
Explanation:
Attachments:
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