Dear Friend I am in help of Yours
Kindly tell me
What Entries should be passed for Following Transactions
1) A Person gives cheque for filling up of IPO say 25000 & Gets share alloted of Rs. 15000 and get back Rs. 10000/-.
2) A person Buy share & paid Cheque to Broker.
What entire entries shud be made for above transactions.
Thanks
Please tell "In the books of .........."
| Originally posted by :CA CS* Prakash Somani (A helping Hand) | ||
| " | Please tell "In the books of .........." | " |
In the Book of Buyer
hi hasan!
Assuming in the Books of the Subscriber,
First Situation
1. Entry
Share Application A/c. Dr. 25000
To Bank A/c. 25000
2. Entry
Investment in shares of . . . . . . . Ltd. A/c. Dr. 15000
Bank A/c. Dr. 10000
To Share Application A/c. 25000
Second Situation
1. Entry
Investment in shares of . . . . . . . Ltd. A/c. Dr.
To Bank A/c.
Assuming paid on spot to Broker
totally Agree with Rahul
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