Question 1A: Kohinoor Company Ltd. completed the following transactions. The par value of company’s share is Rs.10 each. March 23: Issued 6, 000 shares at par each to the promoters of the company. April 09: Purchased an equipment costing Rs.52, 000, issuing 3, 250 shares at Rs. 10 each. June 10: Issued 3, 000 shares of Rs.10 each for equipment purchased worthRs.28, 500. Instructions: Give the journal entries to record the above issuance.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.