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प्रश्न
Kumar Ltd. purchased assets of Rs. 6,30,000 from Bhanu Oil Ltd. Kumar Ltd. issued equity share of Rs. 100 each fully paid in consideration. What journal entries will be made, if the shares are issued, (a) at par, and (b) at premium of 20%.
उत्तर
Case (a)
Books of Kumar Ltd
| Date | Particulars | L.F | Debit Amount (Rs) | Credit Amount (Rs) |
|
Dr Sundry Assets A/c To Bhanu Oil Ltd (Assets purchased from Bhanu Oil Ltd.) |
6,30,000
|
6,30,000 |
||
|
Dr Bhanu Oil Ltd To Share Capital A/c (6,300 shares issued at par to Bhanu Ltd.) |
6,30,000
|
6,30,000 |
`"No. of shares issued at par" = "Amount payable"/"face value"`
`6,300 "shares"= (6,30,000)/100`
Case (b)
| Date | Particulars | L.F | Debit Amount Rs | Credit Amount Rs |
|
Dr Sundry Assets A/c To Bhanu Oil Ltd (Assets purchased from Bhanu Oil Ltd.) |
6,30,000
|
6,30,000 |
||
|
Dr Bhanu Oil Ltd To Share Capital A/c To Securities Premium A/c (5,250 share are issued at 20% premium to Bhanu Ltd. in consideration of assets purchased)
|
6,30,000
|
5,25,000 1,05,000
|
`"No. of shares issued at premium"= "Amount payabl"/ ("Face value"+"Premium per share")`
`5,250 " shares" = (5,250)/(100+2)`
APPEARS IN
संबंधित प्रश्न
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|
With Application |
Rs. 2 |
|
On Allotment (including premium) |
Rs. 5 |
|
On First Call |
Rs. 3 |
|
On Second Call |
Rs. 3 |
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| On Allotment: | ₹ 4 and |
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