Q 79 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solution of Question number 79 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Nikhil Ltd. purchased a running business from Sonia Ltd. for a sum of ₹ 22,00,000 by issuing 20,000 fully paid equity shares of ₹ 100 each at a premium of 10%. The assets and liabilities consisted of the following:
Machinery ₹ 7,00,000, Debtors ₹ 2,50,000, Stock ₹ 5,00,000, Building ₹ 11,50,000 and Bills Payable ₹ 2,50,000.
Pass necessary Journal entries in the books of Nikhil Ltd. for the above transactions.
[Ans. Capital Reserve ₹ 1,50,000.]
Solution:-
