4,07,000.
Shares issued for consideration other than cash
Q.7 Bhawna Ltd. was registered with a nominal capital of 1,00,000 divided into
shares of 10 each. The company purchased assets for 327,000 from Bhatia-Singhal.
The company issued fully paid equity shares of 10 each in satisfaction of the claim.
Shares of 10,000 were issued at par to the promoters for their services.
Give journal entries of the above transactions if Bhatia-Singhal were issued shares
at (i) par, and (ii) 20% premium.
[Ans. Face value of shares issued in case (i) 27,000; and Case (ii) *22,500.]
Answers
Answered by
1
Explanation:
Rise Ltd had issued 40,000, 8% debentures of Rs. 100 each redeemable
on 31st march 2015. It was decided to invest 15% of the face value of
debentures to be redeemed towards debenture redemption investment on
30th april 2014. Investments were encashed and debentures were
redeemed on due date. Record necessary journal entries for redemption of
debentures
Answered by
2
JOURNAL ENTRIES IN THE BOOKS OF BHAWNA LTD.
Explanation:
REFER TO THE IMAGE FOR JOURNAL ENTRIES.
Attachments:
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