Question
A company made a rights issue of 200,000 shares at ₹10
per share with a premium of 20%. What should be the journal entry for this transaction?Solution
To Equity Share Capital A/c ₹20 lakhs To Securities Premium A/c ₹4 lakhs The company issued 200,000 shares at ₹10 each, with a 20% premium. This means the issue price per share is ₹12 (₹10 face value + ₹2 premium). Total amount received = 200,000 shares × ₹12 = ₹24 lakhs. The journal entry would credit ₹20 lakhs to Equity Share Capital (200,000 shares × ₹10 face value) and ₹4 lakhs to the Securities Premium Account (200,000 shares × ₹2 premium).
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