Tally

In following transaction Mr.A, Mr.B & Mr.C invested following amount to start a company:
Mr.A: 50,000
Mr.B: 25,000
Mr.C: 25,000

Accounting Voucher that I’ve passed in Tally:
No. 1 (Receipt Voucher)
Bank A/c                Dr  100,000
Mr.A                        Cr                 50,000
Mr.B                       Cr                 25,000
Mr.C                       Cr                 25,000

No. 2 (Journal Entry)
Mr.A                        Dr    50,000
Mr.B                       Dr    25,000
Mr.C                       Dr    25,000
Share Capital      Cr                100,000

Note: Mr.A Mr.B & Mr.C ledger are created under current liability group and Share Capital ledger is created under Capital account group.

So the question is whether the journal entry passed by me is right or wrong?

Replies (2)

you should directly make this entry

 

by recept voucher

bank a/c ---dr---100000

share capital a/c(mr.A)-----GROUP CAPITAL A/C--------50000

SHARE CAPITALA/C(MRB)----GROUP ---CAPITAL A/C-25000

SHARE CAPITAL A/C(MR C) ---GROUP---CAPITAL A/C-25000

( NARATION:-BEING AMOUNT OF 100000 INVESTED BY MR A B C AS SHARE CAPITAL)

 

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