ISSUE OF SHARES - Share Issued At Premium Class 12 Accounts Part-3 Session 2024-25 (Company Accounts)

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Z Ltd. was registered with an authorised capital of ₹60,00,000 divided in 60,000 equity shares of ₹100 each. Company issued 25,000 equity shares at a premium of 20 per share, payable as follows: ₹30 on Application; ₹45 on Allotment (including premium); 20 on first call and ₹25 on Second and Final Call.All shares were subscribed and all the money was duly received.Pass necessary Journal Entries

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