Question 36 Chapter 8 of +2-A
Table of Contents
36. Sure ltd. Purchased a running business from M/s rai brothers for a sum of Rs 15,00,000 payable Rs 12,00,000 in fully paid shares of Rs 10 each and balance through cheque.
| Plant and machinery | Rs 4,00,000 | Stock | Rs 4,00,000 |
| Building | Rs 4,00,000 | Cash | Rs 3,00,000 |
| Sundry debtors | Rs 3,00,000 | Sundry Debtors | Rs 2,00,000 |
You are required to pass journal entries.
The solution of Question 36 Chapter 8 of +2-A: –
| Date | Particulars |
L.F. | Debit | Credit | |
| Plant A/c | Dr | 4,00,000 | |||
| Stock A/c | Dr | 4,00,000 | |||
| Building A/c | Dr | 4,00,000 | |||
| Sundry Debtors A/c | Dr | 3,00,000 | |||
| Cash A/c | Dr | 3,00,000 | |||
| To Sundry creditors. A/c | 2,00,000 | ||||
| To Share capital. A/c | 15,00,000 | ||||
| To Share capital Reserve. A/c | 1,00,000 | ||||
| (Being assets and liabilities purchased from M/s Rai brothers. ) | |||||
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
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