Sandesh Ltd. took over the assets of ₹ 7,00,000 and liabilities of ₹ 2,00,000 from Sanchar Ltd. for a purchase consideration of
Solution:-
Commerce School
Student Community
Archives Answers
Answer
Bhushan Lamps Ltd issued 30,000 Fully Paid up shares of ₹ 100 each for purchase of the following assets and liabilities from Sharma & Co.:
Solution:-
Sona Ltd purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for
Solution:-
Rajan Ltd Purchased assets from Geeta & Co. for 5,00,000. A sum of ₹ 1,00,000 was paid by means of a bank draft
Solution:- Alternatively (2) and (3) entries can also be combined as Particulars Dr. Cr. Geeta & Co. A/c Dr. To Bank A/c To Equity Share Capital A/c To Securities Premium A/c 5,00,000 1,00,000 3,20,000 80,000
Goodluck Ltd purchased machinery costing ₹ 10,00,000 from Fair Deals Ltd The company paid the price by issue
Solution:-
Z Ltd. purchased furniture costing ₹ 2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of ₹ 100 each at a premium of ₹ 10 per share
Solution:-
‘Amrit Dhara Ltd.’ issued 800 Equity Shares of ₹ 100 each at a premium of 25% as Fully Paid-up in consideration of the purchase of plant and machinery of ₹ 1,00,000
Solution:-
2,000 Equity Shares of ₹ 10 each were issued to Moon Limited from whom assets of ₹ 25,000 were acquired Pass Journal entry.
Solution:-
Random Ltd. took over running business of Mature Ltd. comprising of Assets of ₹ 45,00,000 and Liabilities of ₹ 6,40,000 for a purchase consideration of ₹ 36,00,000
Solution:-
Usha Ltd. was formed with a capital of ₹ 10,00,000 divided into shres of ₹ 100 each. It offered 90% shares to public for subscription
Solution:-