Goodluck Ltd purchased machinery costing ₹ 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of ₹ 10 each at a premium of 25%.

Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd.

[Ans.: 80,000 Equity Shares to be issued.]

Anurag Pathak Changed status to publish September 3, 2023