Question 37 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 37 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 4 Min Read December 20, 2020

Question No.37. - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 37 Chapter 8 of +2-A

Table of Contents

The solution of Question 37 Chapter 8 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

37. Sandesh ltd. Took over the assets of Rs 7,00,000 and liabilities of Rs 2,00,000 from Sanchar ltd for a purchase consideration of Rs 4,59,500. Rs 8500 were paid by accepting a draft in favour of Sanchar ltd. Payable after three months and the balance was paid by the issue of the equity shares of Rs 10 each at a premium of 10% in favour of Sanchar Ltd.

you are required to pass journal entries in the company’s book.

The solution of Question 37 Chapter 8 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Assets A/c	Dr		7,00,000
	To Liabilities. A/c				2,00,000
	To Share capital. A/c				4,10,000
	To Equity share premium A/c				41,000
	To Share capital Reserve A/c				41,000
	To Bank A/c				8,500
	(Being assets and liabilities purchased from Sanchar Ltd. )