Question 37:
2,000
Equity Shares of ₹10 each
were issued to Limited from whom assets of ₹25,000 were
acquired .
Pass Journal entry.
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit ₹ |
Credit ₹ |
|
|
|
|
|
|
|
|
|
|
Assets A/c |
Dr. |
|
25,000 |
|
|
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To X Ltd. |
|
|
25,000 |
|
|
|
(Assets bought from X Ltd.) |
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|
|
|
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|
|
|
|
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|
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X Ltd. |
Dr. |
|
25,000 |
|
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To Share Capital A/c |
|
|
20,000 |
|
|
|
To Securities Premium A/c |
|
|
5,000 |
|
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(2,000 shares of ₹10 each issued to X Ltd.) |
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Question 38:
'Amrit
Dhara Ltd.' issued 800 Equity Shares of ₹100 each at a premium of 25% as
fully paid-up in consideration of the purchase of plant and machinery of
₹1,00,000.
Pass entries in company's Journal.
Answer:
|
Books of Amrit Dhara Limited |
|||||
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|
|
|
Plant & Machinery A/c |
Dr. |
|
1,00,000 |
|
|
|
To Vendor A/c |
|
|
|
1,00,000 |
|
|
(Machinery purchased) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vendor A/c |
Dr. |
|
1,00,000 |
|
|
|
To Equity Share Capital A/c (800 × 100) |
|
|
|
80,000 |
|
|
To Securities Premium A/c (800 × 25) |
|
|
|
20,000 |
|
|
(Shares issued to vendor at a premium of ₹25 per share) |
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Question 39:
Vani Ltd . purchased furniture costing ₹2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of ₹100 each ata premium of ₹10 per share . Pass necessary Journal entries in the books of Vani Ltd.
Answer:
|
Books of Z Ltd. Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit Amount ₹ |
Credit Amount ₹ |
|
|
|
|
|
|
|
|
|
|
Assets A/c |
Dr. |
|
2,20,000 |
|
|
|
To C.D Ltd. |
|
|
2,20,000 |
|
|
|
(Assets purchased from C.D Ltd.) |
|
|
|
|
|
|
|
|
|
|
|
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|
C.D Ltd. |
Dr. |
|
2,20,000 |
|
|
|
To 9% Preference Share Capital |
|
|
2,00,000 |
|
|
|
To Securities Premium A/c |
|
|
20,000 |
|
|
|
(2,000 9% Preference Shares of ₹100 each issued at 10% premium to C.D Ltd.) |
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Working Note:
Number of shares issued=2,20,000/100+10=2,000 shares
Question 40:
Goodluck
Ltd purchased machinery costing ₹10,00,000 from Fair Deals Ltd. The
company paid the price by issue of Equity Shares of ₹10 each at a
premium of 25%.
Pass necessary Journal entries for the above transactions in the books of
Goodluck Ltd.
Answer:
|
Books Goodluck Ltd. Journal |
||||||
|
Date |
Particulars |
L.F. |
Debit Amount ₹ |
Credit Amount ₹ |
||
|
|
|
|
|
|
||
|
|
Machinery A/c |
Dr. |
|
10,00,000 |
|
|
|
|
To Fail Deals Ltd. |
|
|
10,00,000 |
||
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|
(Machinery purchased from Fair Deals Ltd.) |
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||
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Fair Deals Ltd. |
Dr. |
|
10,00,000 |
|
|
|
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To Equity Share Capital A/c |
|
|
8,00,000 |
||
|
|
To Securities Premium A/c |
|
|
2,00,000 |
||
|
|
(80,000 equity shares of ₹10 each issued at 25% premium) |
|
|
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||
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Working Note:
Number of shares issued=10,00,000/10+2.5=80,000 shares
Ts Grewal Solution 2026-2027
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Class 12 / Volume – 2
Chapter 1- Company Accounts- Accounting for Share Capital
Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 To 16
Question No. 17 To 20
Question No. 21 To 24
Question No. 25 To 28
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