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प्रश्न
Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and balance through cheque.
The assets and liabilities consisted of the following:
| Plant and Machinery | ₹ 4,00,000 | Stock | ₹ 4,00,000 |
| Building | ₹ 4,00,000 | Cash | ₹ 3,00,000 |
| Sundry Debtors | ₹ 3,00,000 | Sundry Creditors | ₹ 2,00,000 |
You are required to pass necessary Journal entries in the company's books.
उत्तर
Books of Sure Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|
|
|
Plant and Machinery |
Dr. |
|
4,00,000 |
|
|
|
Building A/c |
Dr. |
|
4,00,000 |
|
|
|
Sundry Debtors A/c |
Dr. |
|
3,00,000 |
|
|
|
Stock A/c |
Dr. |
|
4,00,000 |
|
|
|
Cash A/c |
Dr. |
|
3,00,000 |
|
|
|
To Sundry Creditors A/c |
|
|
2,00,000 |
|
|
|
To M/s Rai Brothers |
|
|
15,00,000 |
|
|
|
To Capital Reserve A/c |
|
|
1,00,000 |
|
|
|
(Business of M/s Rai Brothers took over) |
|
|
|
|
|
|
|
|
|
|
|
|
|
M/s Rai Brothers |
Dr. |
|
12,00,000 |
|
|
|
To Share Capital A/c |
|
|
12,00,000 |
|
|
|
(Shares issued to M/s Rai Brothers) |
|
|
|
|
|
|
|
|
|
|
|
|
|
M/S Rai Brothers |
Dr. |
|
3,00,000 |
|
|
|
To Bank A/c |
|
|
3,00,000 |
|
|
|
(Payment made to M/s Rai Brothers through cheque) |
|
|
|
|
APPEARS IN
संबंधित प्रश्न
Preference shares carry dividend at .......................... rate.
- Fixed
- Fluctuating
- Lower
Equity Shares and Preference Shares.
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Define 'preference shares'. Explain various types of preference shares.
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If a share of 100 is issued at 110. It is said to be issued at ___________.
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| On Allotment: | ₹ 60 and |
| On Call: | Balance Amount. |
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Light Lamps Ltd. issued 50,000 shares of ₹ 10 each as fully paid-up to the promoters for their services to set-up the company . It also issued 2,000 shares of ₹ 10 each credited as fully paid-up to the underwriters of shares for their services . journalise these transactions.
Sandesh Ltd. took over the assets of ₹ 7,00,000 and liabilities of ₹ 2,00,000 from Sanchar Ltd. for a purchase consideration of ₹ 4,59,500. ₹ 8,500 were paid by accepting a draft in favour of Sanchar Ltd. payable after three months and the balance was paid by issue of equity shares of ₹ 10 each at a premium of 10% in favour of Sanchar Ltd.
Pass necessary journal entries for the above transactions in the books of Sandesh Ltd.
State, with reason, whether the following statement is True or False.
Preference shareholders have normal voting rights.
Equity shares and Preference shares.
Explain any three disadvantages of issuing equity shares, from the Company's point of view.
Distinguish between equity shares and preference shares.
What is meant by participating preference shares?
According to Companies Act company cannot issue its share at ________.
Which of the following statement is incorrect about Preference Shares?
Which type of shares cannot be issued as per the Companies Act, 2013?
As per the Companies Act, 2013, companies cannot issue ______.
Which is not true about Preference Shares?
From the following Balance Sheets of Vinayak Ltd. as of 31st March 2021, Prepare a Common-size Balance Sheet.
| Vinayak Ltd. Balance Sheet as of 31st March, 2021 | |||
| Particulars | Note no. | 31.3.2021 (₹) | 31.3.2020 (₹) |
| I EQUITY AND LIABILITIES | |||
| 1. Shareholder’s Funds: | |||
| a. Share Capital | 30,50,000 | 20,00,000 | |
| b. Reserve and Surplus | 2,80,000 | 6,00,000 | |
| 2. Current Liabilities: | |||
| a. Trade Payable | 6,70,000 | 4,00,000 | |
| Total | 40,00,000 | 30,00,000 | |
| II ASSETS | |||
| 1. Non-Current Assets: | |||
| a. Fixed Assets: | |||
| i. Tangible Assets | 16,00,000 | 12,00,000 | |
| ii. Intangible Assets | 2,00,000 | 3,00,000 | |
| 2. Current Assets | |||
| a. Inventories | 8,00,000 | 3,00,000 | |
| b. Trade Receivables | 12,00,000 | 10,00,000 | |
| c. Cash and Cash Equivalents | 2,00,000 | 2,00,000 | |
| Total | 40,00,000 | 30,00,000 | |
