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प्रश्न
Sona Ltd. purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of ₹ 100 each at a premium of 25% . Pass necessary Journal entries for the above transactions in the books of Sona Ltd .Show your working notes clearly.
उत्तर
Journal
In the Books of Sona Ltd.
|
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
Machinery A/c |
Dr. |
|
17,00,000 |
|
|
|
To Mona Ltd. |
|
|
|
17,00,000 |
|
|
(Machinery purchased on credit from Sona Ltd.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mona Ltd. |
Dr. |
|
3,40,000 |
|
|
|
To Bank A/c |
|
|
|
3,40,000 |
|
|
(20% amount paid through cheque) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mona Ltd. (17,00,000 – 3,40,000) |
Dr. |
|
13,60,000 |
|
|
|
To Equity Share Capital* |
|
|
|
10,88,000 |
|
|
To Securities Premium A/c* |
|
|
|
2,72,000 |
|
|
(Issued 10,880 shares of Rs 100 each to Mona Ltd. at 25% Premium) |
|
|
|
|
Working Notes: *
No.of.shares = `"Purchase consideration"/"Face value of shares + Premium"`
`= 1360000/(100 + 25)` = 10880 shares
Therefore , Amount of share Capital Issued = 10880 × 100 = Rs 1088000
Amount of securities Premium = Rs 1088000 × 25% = Rs 72000
APPEARS IN
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| Aradhana Ltd. Balance Sheet as on 31st March, 2021 | |||
| Particulars | Note No. | 31st March, 2020 | 31st March, 2021 |
| I. Equity and Liabilities | |||
| 1. Shareholder’s Funds | |||
| (a) Share Capital | 5,00,000 | 7,30,000 | |
| (b) Reserves and Surplus | 1 | 3,50,000 | 3,70,000 |
| 2. Non-current Liabilities | |||
| Long-term Borrowings | 2 | 4,00,000 | 2,00,000 |
| 3. Current Liabilities | |||
| (a) Trade Payables | 3 | 3,60,000 | 4,60,000 |
| (b) Short Term provisions | 4 | 3,25,000 | 3,20,000 |
| Total | 19,35,000 | 20,80,000 | |
| II. Assets | |||
| 1. Non-current Assets | |||
| (a)Fixed Assets | 5 | ||
| (i) Tangible Assets | 6 | 4,50,000 | 5,00,000 |
| (ii) Intangible Assets | 3,10,000 | 3,02,000 | |
| (b)Long-term Loans and Advances | 4,00,000 | 4,30,000 | |
| 2. Current Assets | |||
| (a) Inventories | 2,70,000 | 2,90,000 | |
| (b) Trade Receivables | 2,40,000 | 2,60,000 | |
| (c) Cash and Cash Equivalents | 2,65,000 | 2,98,000 | |
| Total | 19,35,000 | 20,80,000 | |
Note to Accounts
| Particulars | 31st March 2020 | 31st March 2021 |
| 1. Reserves and Surplus Statement of Profit and loss | 3,50,000 | 3,70,000 |
| 2. Long-term Borrowings 10% Debentures | 4,00,000 | 2,00,000 |
| 3. Trade Payables | ||
| Creditors | 2,40,000 | 2,60,000 |
| Bills Payable | 1,20,000 | 2,00,000 |
| 3,60,000 | 4,60,000 | |
| 4. Short-Term Provisions Provision for Tax | 3,25,000 | 3,20,000 |
| 5. Tangible Fixed Assets | ||
| Machinery | 5,50,000 | 6,60,000 |
| Less: Provision for Depreciation | 1,00,000 | 1,60,000 |
| 4,50,000 | 5,00,000 | |
| 6. Intangible Fixed Assets Patents | 3,10,000 | 3,02,000 |
Additional Information:
- Debentures were redeemed on 1st April,2020.
- Tax paid during the year ₹2,80,000.
