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Nikhil Ltd. purchased a running business...

Nikhil Ltd. purchased a running business from Sonia Ltd. for a sum of Rs. 22,00,000 by issuing 20,000 fully paid equity shares of Rs. 100 each at a premium of 10%. The assets and liabilities consisted of the following :
Machinery Rs. 7,00,000, Debtors Rs. 2,50,000, Stock Rs. 5,00,000, Building Rs. 11,50,000 and Bills Payable Rs. 2,50,000. Pass necessary Journal entries in the books of Nikhil Ltd. for the above transactions.

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Capital Reserve Rs. 1,50,000.
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DK GOEL-COMPANY ACCOUNTS - ISSUE OF SHARES -ADDITIONAL QUESTIONS (For Practice)
  1. Sona Ltd. purchased machinery costing Rs. 17,00,000 from Mona Ltd. Son...

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  2. Z Ltd. purchased furniture costing Rs. 2,20,000 from C.D. Ltd. The pay...

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  3. Nikhil Ltd. purchased a running business from Sonia Ltd. for a sum of ...

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  4. Pass necessary journal entries for the following transactions in the b...

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  5. X Ltd. with a nominal capital of Rs. 50,00,000 in equity shares of Rs....

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  6. Zee Limited was registered with a capital of Rs. 20,00,000. divided in...

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  7. A Company invited applications for 50,000 equity shares of Rs. 10 each...

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  8. Narmada Limited was registered with an Authorised Capital of Rs. 5,00,...

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  9. The directors of a company forfeited 1,000 equity shares of Rs. 10 eac...

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  10. (A) Virender Limited forfeited 400 shares of Rs. 100 each (Rs. 60 call...

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  11. Y Ltd. invited applications for issuing 15,000 equity shares of Rs. 10...

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  12. XYZ Limited has an aAuthorised Capital of Rs. 4,00,000 divided into sh...

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  13. The Mohan Ltd., has authorised capital of Rs. 5,00,000 divided into 50...

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  14. A Ltd. forfeited 800 shares of Rs. 10 each issued at 20% premium (to b...

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  15. B Ltd. forfeited 500 shares of Rs. 10 each issued at 20% premium (to b...

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  16. C Ltd. forfeited 300 shares of Rs. 10 each issued at 20% premium (to b...

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  17. X Ltd. forfeited 800 shares of Rs. 20 each issued at a premium of Rs. ...

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  18. X Ltd., forfeited 1,000 shares of Rs. 20 each issued at a premium of R...

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  19. X Limited forfeited 1,000 shares of Rs. 10 each (Rs. 8 called-up) issu...

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  20. Y Ltd. forfeited 100 shares of Rs. 10 each issued at 20 premium (to be...

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