Following is the Balance Sheet of Amit and Vidya as at 31st March, 2024: Creditors ₹ 26,000 Employees Provident Fund ₹ 16,000
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Om, Ram and Shanti were partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 1st April, 2014 their Balance Sheet was as follows:
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Ashok and Biju were partners sharing profits and losses in the ratio of 3 : 1 respectively. The following was their balance sheet as at 31st March, 2024
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A and B are partners sharing profits in the proportion of 3 : 2. Their Balance Sheet as at 31st March, 2024 was as follows:
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A and B are partners sharing profits in the ratio of 5 : 3. C was admitted for 1/4th share in profits. C acquires this share as 3/16 from A and 1/4th of his share from B. C brings in ₹ 1,00,000 as his capital
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Sure Ltd. purchased the assets of Sony Ltd. for ₹ 5,00,000. It also agreed to take over the liabilities of Sony Ltd
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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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