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Question

A limited Company was registered with an authorised capital of Rs 2,00,000 in Rs 10 shares, of these 6,000 shares were issued as fully paid to the vendors for the purchase of buildings. Pass the necessary journal entries.


Solution

                                                                    JOURNAL                                     Date          ParticularsL.FDr (Rs)Cr. (Rs)Building A/cDr.60,000   To Vendors A/c60,000(Building purchased)Vendors A/cDr.60,000   To Share Capital A/c60,000(Shares issued to vendors)

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