UPSC Exam  >  UPSC Questions  >  Emma limited wishes to study its mix preferen... Start Learning for Free
Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above?
Most Upvoted Answer
Emma limited wishes to study its mix preference shades amounting ₹1000...
Journal Entry for Emma Limited:

Issue of Equity Shares:
- Debit Cash A/c ₹50,000
- Credit Equity Share Capital A/c ₹50,000

Premium on Equity Shares:
- Debit Securities Premium A/c ₹2,500
- Credit Securities Premium Reserve A/c ₹2,500

Study Mix Preference Shades:
- Debit Study Expenses A/c ₹10,000
- Credit Cash A/c ₹10,000

Balance in Profit and Loss Account:
- Debit Profit and Loss A/c ₹100,000
- Credit Capital Reserve A/c ₹100,000
Explanation:
- Emma Limited issued 5000 equity shares at a face value of ₹10 each, raising ₹50,000.
- The company also received a premium of 5% on the issue price, totaling ₹2,500.
- The cash received was credited to the Equity Share Capital and Securities Premium Reserve accounts.
- The company incurred study expenses of ₹10,000 for studying its mix preference shades, which was debited to Study Expenses account and credited to Cash account.
- The balance of ₹100,000 in the Profit and Loss account was transferred to the Capital Reserve account to maintain proper accounting records and ensure the company's financial stability.
Explore Courses for UPSC exam

Top Courses for UPSC

Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above?
Question Description
Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above?.
Solutions for Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? defined & explained in the simplest way possible. Besides giving the explanation of Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above?, a detailed solution for Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? has been provided alongside types of Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? theory, EduRev gives you an ample number of questions to practice Emma limited wishes to study its mix preference shades amounting ₹10000 at a premium of 5%.And for this purpose, issues 5000 equity shades of ₹10 each at premiere of 5%.The company has also a balance of ₹,100000 in profit.And loss account journalized the above? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev