Question 1. B Ltd purchase the assets of Rs. 10,80,000 from C Ltd. The consideration was payable in fully paid equity shares of Rs. 100 each. Required: Show the necessary journal entries in books of B

Question

Aman · Answer

*C ltd Dr. (Instead of asset a/c). *First entry is same in both

Aman · Answer

a) Issued at par Asset a/c Dr. 10,80,000 to C ltd 10,80,000 C ltd a/c Dr. 10,80,000 to share capital 10,80,000 b)Issued at premium Asset a/c Dr. 10,80,000 to share capital. 8,64,000 to security premium 2,16,000

Aman · Answer

Asset A/c Dr. 10,80,000.

Alok · Answer

But a is wrong correct is C LTD Dr 108000 To share capital A/c 1080000 at par

Alok · Answer

Oh bro u are correct i not see a read more

Alok · Answer

C ltd Dr. 1080000 To share capital A/c 1080000

Alok · Answer

Assets a/c dr 1080000 To C ltd

Alok · Answer

Wrong answer bro

Aswin · Answer

(a): Sundry Assets A/C Dr 1080000 To Equity Share Capital A/C 1080000 (b): Sundry Assets A/C Dr 1080000 To Equity Share Capital (1080000/120x100): 900000 To Securities Premium A/C (900000x20%): 216000

Question 1. B Ltd purchase the assets of Rs. 10,80,000 from C Ltd. The consideration was payable in fully paid equity shares of Rs. 100 each. Required: Show the necessary journal entries in books of B

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