Sona Ltd. purchased machinery costing Rs. 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of Rs. 100 each at a premium of 25%. Pass necessary Journal entries for the above transactions in the books of Sona Ltd. Show your working notes clearly.

Sona Ltd. purchased machinery costing Rs. 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of Rs. 100 each at a premium of 25%. Pass necessary Journal entries for the above transactions in the books of Sona Ltd. Show your working notes clearly.

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