46 :- Bhushan Lamps Ltd. Issued 30,000 Fully Paid-up shares of Rs 100 each for purchase of the following assets and liabilities from Sharma and Co.:
Plant Rs 7,00,000
Land and Building Rs 12,00,000
Stock-in-Trade Rs 9,00,000
Sundry Creditors Rs 2,00,000
You are required to pass necessary Journal entries.
47 :- Sandesh Ltd. took over the assets of Rs 7,00,000 and liabilities of Rs 2,00,000 from Sanchar Ltd. for a purchase consideration of Rs 4,59,500. Rs 8,500 were paid by accepting a draft in favour of Sanchar Ltd. Payable after three months and the balance was paid by issue of equity shares of Rs 10 each at a premium of 10% in favour of Sanchar Ltd.
Pass necessary Journal Entries for the above transactions in the books of Sandesh Ltd.
48 :- Santoor Ltd. Purchased running business from Sanchar Ltd. For Rs 15,00,000 payable 10% by cheque and the balance by the issue of fully paid Equity Shares of Rs 100 each at a premium of 20%. The assets and liabilities consisted of the following:
49 :- Light Lamps Ltd. Issued 50,000 shares of Rs 10 each as fully paid-up to the promoters for their services to set-up the company. It also issued 2,000 shares of Rs 10 each credited as Fully paid-up to the underwriters of shares for their services. Journalise these transactions.