Q 14 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 14 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Madhur Ltd. took over the assets of ₹ 5,00,000 and Liabilities of ₹ 40,000 of Rasova Ltd. for a consideration of ₹ 4,00,000. 20% was paid by a cheque and the balance by issue of fully paid equity shares of ₹ 100 each at a premium of 60%. Show necessary journal entries for these transactions in the books of Madhur Ltd.
[Ans. Capital Reserve ₹ 60,000; Number of shares issued 2,000.]
Solution:-
