Q 12 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 12 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Tagore Ltd. purchased a running business from Tulsi Bros. for a sum of ₹ 60,00,000 payable by the issue of fully paid equity shares of ₹ 20 each at a premium of 50%. The assets and liabilities consisted of the following:
| Book Value (₹) | Agreed Value (₹) | |
| Plant and Machinery | 40,00,000 | 30,00,000 |
| Stock | 15,00,000 | 19,70,000 |
| Sundry Debtors | 10,00,000 | subject to Provision for Doubtful Debts @ 5% |
| Sundry Creditors | 3,00,000 | 3,00,000 |
Pass the necessary journal entries in the books of Tagore Ltd.
[Ans. Goodwill ₹ 3,80,000; Number of shares issued 2,00,000. Premium on Issue of shares ₹ 20,00,000.]
Solution:-
