The authorized share capital of Super Growth Limited consisted of 10 million equity shares of the face
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The authorized share capital of Super Growth Limited consisted of 10 million equity shares of the face value ₹ 10 each and one million 10% preference shares of the face value ₹ 100 each. Out of this, the company allotted one million equity shares at par to the promoters for cash. The company also issued five million equity shares to other investors for cash at a premium of ₹ 10 each. Pass the necessary journal entries for the above. How will the equity appear in the balance sheet of the company?
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