Z Ltd. purchased furniture costing Rs. 2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of Rs. 100 each at a premium of Rs. 10 per share. Pass necessary Journal entries in the books of Z Ltd.
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Reliance Ltd. Purchased machinery costing ₹ 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of ₹ 100 each
Correct Answer - Number of Debentures Issued -(i) 1,350; (ii) 1,500.
2 Answers 1 views
Authorised capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 ea
Correct Answer - Share Capital-Rs. 21,00,000.
2 Answers 1 views
Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3
Correct Answer - Balance Sheet Total-Rs. 5,49,700.
2 Answers 1 views
Sugandh Ltd. issued 60,000 shares of Rs. 10 each at a premium of Rs. Per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment
Correct Answer - Amount received on allotment-Rs. 2,05,800.
2 Answers 7 views
Goodluck Ltd. purchased machinery costing Rs. 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of Rs. 10 each at a
Correct Answer - 80,000 Equity Shares to be issued.
2 Answers 1 views
Jain Ltd. purchased machinery costing Rs. 10,00,000 from Ayer Ltd. 50% of the payment was made by cheque and for the remaining 50%, the company issued
Correct Answer - 4,000 Equity Shares to be issued.
2 Answers 1 views
Better Prospect Ltd. acquired land costing Rs. 1,00,000 and in payment allotted 1,000 Equity Shares of Rs. 100 each as fully paid. Further, the compan
Correct Answer - Balance Sheet Total-Rs. 4,92,000.
2 Answers 1 views
Black Stone Ltd. issued 10,000 Equity Shares of Rs. 10 each at a premium of Rs. 3 per share payable Rs. 5 on application, Rs. 5 (including premium) on
Correct Answer - Forfeited Shares A/c-Rs. 1,000.
2 Answers 1 views
Kamal Ltd. was formed on 1st April, 2010 with an authorised capital of Rs. 2,00,000, divided into 2,000 Equity Shares of Rs. 100 each. 1,000 shares we
Correct Answer - Capital Reserve-Rs. 2,000; Balance Sheet Total-Rs. 1,69,500.
2 Answers 1 views
Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 4 on allotment (including premium)
Correct Answer - Allotment money not paid by Sonu-Rs. 2,000; First call not paid by Sonu-Rs. 1,600; Capital Reserve-Rs. 3,600.
2 Answers 1 views