Sangita Limited invited applications for issuing 60,000 shares of ₹ 10 each at par. The amount was payable as follows: on application ₹ 2 per share; on allotment ₹ 3 per share; on first and final call ₹ 5 per share
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Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On Application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.
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Vikram Ltd. forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of ₹ 5 per share and first and final call of ₹ 2 per share
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Light Lamps Ltd. issued 50,000 shares of ₹ 10 each as fully paid-up to the promoters for their services to set-up the company
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Sandesh Ltd. purchased a running business from Sanchar Ltd for ₹ 15,00,000 payable 10% by cheque and the balance by the issue of fully paid Equity Shares of ₹ 100 each at a premium of 20%
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Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and the balance through cheque
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Sandesh Ltd. took over the assets of ₹ 7,00,000 and liabilities of ₹ 2,00,000 from Sanchar Ltd. for a purchase consideration of
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Bhushan Lamps Ltd issued 30,000 Fully Paid up shares of ₹ 100 each for purchase of the following assets and liabilities from Sharma & Co.:
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Sona Ltd purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for
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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