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?