Question

Abdul Ltd. issue 50,000 shares of ₹ 10 each at a premium of ₹ 2 per share. Pass journal entry if the amount is fully received along with a premium amount of ₹ 2 per share.

Answer 1

Date	Particulars	L.F.	Debit Rs.	Credit Rs.
(1)	Bank A/c (50,000 × Rs. 12)  Dr.   To share capital A/c (50,000 × Rs. 10)   To Securities premium A/c  (50,000 × Rs. 2) [Issue of shares at a premium of Rs. 2]		6,00,000	5,00,000 1,00,000