Are you looking for the solution to Question number 38 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?
Sona Ltd purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of ₹ 100 each at a premium of 25%.
Pass necessary Journal entries for the above transactions in the books of Sonal Ltd. Show your working notes clearly.
[Ans.: 10,880 Equity Shares to be issued.]