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Amrit Dhara Ltd.' issued 800 Equity Shar...

Amrit Dhara Ltd.' issued 800 Equity Shares of Rs. 100 each at a premium of 25% as fully paid-up in consideration of the purchase of plant and machinery of Rs. 1,00,000.
Pass entries in company's Journal.

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The correct Answer is:
Dr. Vendor's A/c by Rs. 1,00,000; Cr. Share Capital A/c by Rs. 80,000 and Securities Premium Reserve A/c by Rs. 20,000.
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