(i) Pass the Journal entries for the transactions; and |
(ii) Identify the values conveyed by the company. |
Answer:
(i) JOURNAL
(ii) Values conveyed by the company is Empathy towards children belonging to low income groups. Date Particulars LF Amt (Dr) Amt (Cr) Machinery A/c Dr 10,00,000 To Evergreen Ltd. 10,00,000 (Being the machinery purchased from Evergreen Ltd.) Evergreen Ltd. Dr 10,00,000 To Bank A/c 2,00,000 To 10% Preference Share Capital A/c \[(5,000\times 100)\] 5,00,000 To 10% Debentures A/c \[(3,000\times 100)\] 3,00,000 (Being the consideration paid by issue of cheque for Rs. 2,00,000, 5,000, 10% preference shares of Rs.100 each and 3,000, 10% debentures of Rs. 100 each)
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