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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 35 Chapter 8 of +2-A
35. Bharat lamp Ltd issued 30,000 fully paid-up shares of Rs 100 each for a purchase of the following assets and liabilities from Sharma & co;
| Plant | Rs 7,00,000 | Stock-in-trade | 9,00,000 |
| Land and building | Rs 12,00,000 | Sundry creditors | 2,00,000 |
You are required to pass journal entries.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Plant A/c | Dr | 7,00,000 | |||
| Stock in trade A/c | Dr | 9,00,000 | |||
| Land and Building A/c | Dr | 12,00,000 | |||
| Goodwill A/c | Dr | 4,00,000 | |||
| To Sundry creditors. A/c | 2,00,000 | ||||
| To Share capital. A/c | 30,00,000 | ||||
| (Being assets and liabilities purchased from Sharma & co ) | |||||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 35 Chapter 8 of +2-A - T.S. Grewal 12 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 2.
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