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Pass general entries of the transactions

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Question - During the year ended on December 31, 2011, Shah Limited reported the following transactions:

i. Offered 200,000 ordinary shares (Par Value Rs.10 each) to the public at 20% premium. Applications (along with application money} received for 250,000 ordinary shares. The company allotted the ordinary shares and refunded the excess money through bank.

ii. Purchased a building for Rs.15,000,000 against the issuance of 1,100,000 shares of Rs.10 each.

iii. Issued a suitable number of shares of Rs.10 each against the purchase of a van at Rs.1,000,000. The market value of share is Rs.50 each.

Required - Pass general entries of the above transactions.

Reference no: EM133184584

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