37 :- Random Ltd. took over running business of Mature Ltd. comprising of Assets of Rs 45,00,000 and Liabilities of Rs 6,40,000 for a purchase consideration of Rs 36,00,000. The amount was settled by bank draft of Rs 1,50,000 and balance by issuing 12% Preference Shares of Rs 100 each at 15% premium. Pass entries in the books of Random Ltd.
38 :- 2,000 Equity shares of Rs 10 each were issued to Moon Limited from whom assets of Rs 25,000 were acquired. Pass Journal entry.
39 :- ‘Amrit Dhara Ltd.’ issued 800 Equity shares of Rs 100 each at a premium of 25% as Fully Paid-up in consideration of the purchase of Plant and Machinery of Rs 1,00,000.
Pass entries in company’s Journal.
40 :- Z Ltd. purchased furniture costing Rs 2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of Rs 100 each at a premium of Rs 10 per share. Pass necessary Journal entries in the books of Z Ltd.
41 :- Goodluck Ltd. purchased machinery costing Rs 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of Rs 10 each at a premium of 25%.
Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd.