23. Extract of Financial statements of Alexa Ltd are produced below.
During the year Alexa ltd. purchased business of Gloria ltd. with assets of Rs.50,00,000 and liabilities of Rs.20,00,000. With regards to the following additional Information:
1) During the year 40,000 Equity Shares were issued at a premium of Rs.4 per share for cash.
2) Besides this no shares were issued as sweat equity, bonus or as ESOP or in any other form.
Give journal entries for issue of shares for cash and consideration other than cash. Also, prepare Share Capital A/c and Securities Premium Account in the books of Alexa ltd.
Solution :-
