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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

Monjur Alahi

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 premium of 25% .
Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd.


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Salim Ahmed Kawsar

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Correct Answer - 80,000 Equity Shares to be issued.

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Newton Ltd. purchased a Machinery from B for ₹ 5,76,000. to be paid by the issue of 9% Debentures of ₹ 100 each at 4% discount . Journalise the tr

Correct Answer - 6,000 Debentures of ₹ 100 each .

2 Answers 1 views
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
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

Correct Answer - 2,000; 9% Preference 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
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
Krishna & Co. Ltd. with an authorised capital of Rs. 2,00,000 divided into 20,000 Equity Shares of Rs. 10 each, issued the entire amount of the shares

Correct Answer - Capital Reserve-Rs. 800; Balance Sheet Total-Rs. 2,40,500.

2 Answers 1 views
Dogra Ltd. had an authorised capital of Rs. 1,00,00,000 divided into Equity Shares of Rs. 100 each. The company offered 84,000 shares to the public at

Correct Answer - Capital Reserve-Rs. 14,000; Balance of Cash Book-Rs. 96,10,000.

2 Answers 4 views
The paid-up capital of a company is Rs.50,000. If the company has shares of face of Rs.25 in which Rs.20 is paid-up, then how many shares does it have

Correct Answer - Rs.62,500

2 Answers 1 views

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