Ram .Ltd purchase Business of shyam Ltd which include Land & Building 30 Lakh , Plant & Machinery 20 Lakh, stock 15 Lakh , Debtor 10 Lakh and Creditor 8 Lakh ,purchase consideration was settled at ₹72 Lakh .₹12 Lakh was paid by cheque ₹15 lakh was paid by acceptance of Bill and Balanced paid by issues of shares of ₹100 each. Pass the necessary Journal Entry .( in the following Cases ).1)When Shares issued at Par . 2) When Shares issued at Prenium 50%. ( ch = Issues of shares).
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building a/c dr 30,00,000
machinery a/c dr 20,00,000
stock a/c dr 15,00,000
debtors a/c dr 10,00,000
goodwill a/c dr 5,00,000
to creditors a/c 8,00,000
to vendor a/c 72,00,000
when shares issued at par
vendor a/c dr 72,00,000
to bank a/c 12,00,000
to bills of exchange 15,00,000
to shares 45,00,000
when shares issued at premium
vendor a/c dr 72,00,000
to bank a/c 12,00,000
to bills of exchange 15,00,000
to shares 30,00,000
to SPR 15,00,000
number shares issued
45,00,000/150=30,000
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