Journal entries Archives - Page 10 of 12

Question 50 to 53 (Forfeiture of Shares which were Issued at Par)

50 :- Vikram Ltd. Forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of Rs 5 per share and first and final call…

Accountancy Class 12 General

Mangla Cortubi Ltd. Took over a unit of Mangla Tubes Ltd.

45 :- Mangla Cortubi Ltd. Took over a unit of Mangla Tubes Ltd. consisting of Machinery - Rs 40,00,000. Tools and Dies - Rs 10,00,000 and Liabilities of Rs 25,00,000…

Accountancy Class 12 General

Question 46 to 49 (Issue of Shares for Consideration other than Cash)

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 7,00,000Land and Building…

Accountancy Class 12 General

Santoor Ltd. Purchased running business from Sanchar 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…

Accountancy Class 12 General

Sandesh Ltd. took over the assets of Rs 7,00,000 and liabilities

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…

Accountancy Class 12 General

Bhushan Lamps Ltd. Issued 30,000 Fully Paid-up shares of Rs 100

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 7,00,000Land and Building…

Accountancy Class 12 General

Question 37 to 41 (Issue of Shares for Consideration other than Cash)

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…

Accountancy Class 12 General

Goodluck Ltd. purchased machinery costing Rs 10,00,000

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…

Accountancy Class 12 General

Z Ltd. purchased furniture costing Rs 2,20,000 from C.D Ltd

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…

Accountancy Class 12 General

‘Amrit Dhara Ltd.’ issued 800 Equity shares of Rs 100 each

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…