Hero Ltd. purchased assets of the books value of ₹ 4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros
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Downhill Ltd. purchased Plant and Machinery for ₹ 10,00,000 payable as ₹ 3,25,000 in cash and balance by issue of 10% Debentures of ₹ 1,000 each issued at a discount of 10%. Pass Journal entries
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Airdrop Ltd. issued 6,000; 10% Debentures of ₹ 50 each at a premium of ₹ 15 payable as follows ₹ 15, including premium of ₹ 5 on application:
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Universal Auto Ltd. issued 40,000; 10% Debentures of ₹ 100 each at par for cash payable in full along with the application
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Fortune Ltd. issued 2,000; 8% Debentures of ₹ 100 each payable as follows ₹ 25 on application ₹ 25 on allotment and ₹ 50 on first and final call
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BG Ltd. forfeited 2,000 Equity Shares of ₹ 100 each, issued at a premium of ₹ 50 per share, held by Ram for non-payment of the final call of ₹ 30 per share
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Star Plus Ltd has an authorised capital of ₹ 4,00,000 divided into shares of ₹ 20 each, the whole of which is issued and subscribed at a premium of ₹ 2 per share. The amount was payable as follows
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Sunflower Ltd. forfeited 400 shares of ₹ 100 each issued at a premium of ₹ 10 per share on which allotment money of ₹ 50 per share (including premium) and first call of ₹ 20 per share were not received
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Smile Ltd was formed for the purpose of purchasing business for ₹ 2,00,000, divided into 2,000 Equity Shares of ₹ 100 each. 1,000 shares were issued as fully paid to the vendors in part payment of the purchase consideration
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Vivaan Ltd. issued a prospectus inviting applications for 50,000 shares of ₹ 100 each. These shares were issued at par on the following terms:
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