Solution for QID #87252: The following transactions related to Salman CO. Ltd. a) | StudyHelpMe

The following transactions related to Salman CO. Ltd. a) The company offered 50,000 shares of Rs.10 each at Rs.15, The company received application for 65,000 shares. The company finalized the allotment and the excess money was refunded.   b) The company declared stock dividend of Rs.1,00,000. the company issued 9,000 shares of Rs.10 each in settlement of stock dividend.     c) The company purchased land worth Rs. 5,00,000 and issued 45,000 shares of Rs.10 each to vendor.   d) The company purchased machine and in consideration thereof issued 16,000 shares of Rs.10 each. The market price of the shares was Rs.12.50.   e) The company issued 2,000 debentures of Rs.100 each at par , repayable after five years at 5% redemption premium.   f) The company issued 1,000 debentures of Rs.100 each at Rs.95 repayable after five years at Rs.105.   REQUIRED:  Record the above transactions in the general journal of the company