DG Ltd Purchased assets of Rs 2,50,000 from VG Ltd . DG Ltd issued equity shares of Rs 50 each fully paid in consideration. Which of the following is true ?

None of the above

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Share capital account shall be debited with Rs 250000

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Share capital account shall be credited with Rs 250000

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Share capital account shall be credited with Rs 5000

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Solution

The correct option is C
Share capital account shall be credited with Rs 250000

VG Ltd Dr 2,50,000

To Equity share Capital A/c 2,50,000 ( 5,000 x 50 )

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DG Ltd Purchased assets of Rs 2,50,000 from VG Ltd . DG Ltd issued equity shares of Rs 50 each fully paid in consideration. Which of the following is true ?

The correct option is C Share capital account shall be credited with Rs 250000 VG Ltd Dr 2,50,000 To Equity share Capital A/c 2,50,000 ( 5,000 x 50 )

The correct option is C
Share capital account shall be credited with Rs 250000

VG Ltd Dr 2,50,000

To Equity share Capital A/c 2,50,000 ( 5,000 x 50 )