Tally

rai mohan (accountant) (28 Points)

27 November 2011  

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?