General entry in company books as follows:
[Debit] Cash/Bank 50000
[Credit] Share capital 50000
debit machine accountcredit share capital account
Debit Cash / bankCredit Shares in share capital of business
Debit Treasury Stock account50000 Credit Cash / bank account 50000
debit cash / bank 1400000credit share capital 1400000
debit wages expensecredit shares in share capital
debit cash / bankcredit shares in share capital account
debit patent 92000credit shares in share capital 92000
debit share redemption accountcredit cash / bankcredit profit on share redemption
debit cash / bank 90000credit share capital 20000credit share premium 70000
debit cash 70000000credit shares in share capital 5000000credit premium on shares capital 2000000
debit cash / bank 457000credit share capital 457000
debit treasury stock 200000debit premium 40000credit cash 240000