Q 80 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solution of Question number 80 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Pass necessary journal entries for the following transactions in the books of Gopal Ltd.:
(i) Purchased furniture for ₹ 2,50,000 from M/s Furniture Mart. The payment to M/s Furniture Mart was made by issuing equity shares of ₹ 10 each at a premium of 25%.
(ii) Vanya Ltd. purchased a running business from Hardik Ltd. for a sum of ₹ 18,00,000. the payment of ₹ 10,00,000 was made by issue of equity shares of ₹ 10 each and balance by a cheque. The assets and liabilities acquired from Hardik Ltd. consisted the following:
| Machinery | 9,00,000 |
| Land and Building | 13,50,000 |
| Furniture | 8,50,000 |
| Sundry Creditors | 3,00,000 |
[Ans. (i) Number of Shares issued 20,000 (ii) Capital Reserve ₹ 10,00,000.]
Solution (1):-
Solution (ii):-
