Pass necessary journal entries in the account books of a Company

Also, mention the impact of each transaction on the Balance Sheet of the company.

1.  Issue of Bonus shares in the ratio of 1:1. The share capital at the beginning of the year stood at ₹12,50,000. Adequate retained earnings at ₹ 12,50,000. Adequate retained earnings in the form of general reserve and Profit and Loss (Cr.) were present on the date of the Bonus issue.
2. The company bought back its own 25,000 shares @ ₹135 each. Such shares have not been cancelled. Face value of each share is ₹10. 
3. Company’s net block amounted to ₹7,25,750. Management decide to revalue it at ₹9,50,000 and show it at revised value.
4. An Asset worth ₹62,500 was lost in fire and the company could realize ₹45,000 only from the insurance company.
5. Bad Debts amounting to ₹15,500 were recovered during the year.
6. Issue of 10,00,000 shares of ₹10 each at a premium of ₹65. (Money received by the company). 

Year of Exam- 2011

Question Paper -1

Question number-2 (a) 

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