Question

Fill in the missing figures :
$\begin{array}{cccccc}\text{Date}& \text{Particulars}& & \text{L.F.}& \text{Debit}& \text{Credit}\\ & & & & \text{(Rs)}& \text{(Rs)}\\ & \text{Sundry Assets A/c}& \text{Dr.}& & ............& \\ & \text{To Vendor A/c}& & & & ...........\\ & \underset{–}{\text{(Being business is taken over by X Ltd)}}& & & & \\ & \text{Vendor A/c}& \text{Dr.}& & ............& \\ & \text{To Equity Share Capital A/c}& & & & ............\\ & \text{To Securities Premium Reserve A/c}& & & & ............\\ & \text{(Being purhase consideration on Rs 2,00,000 is settled by}& & & & \\ & \text{issuing equity shares of Rs 10 each at a premium of}25\%)& & & & \end{array}$

Answer 1

JOURNAL

$\begin{array}{cccccc}\text{Date}& \text{Particulars}& & \text{L.F.}& \text{Debit}& \text{Credit}\\ & & & & \text{(Rs)}& \text{(Rs)}\\ & \text{Sundry Assets A/c}& \text{Dr.}& & 2,00,000& \\ & \text{To Vendor A/c}& & & & 2,00,000\\ & \underset{–}{\text{(Being business is taken over by X Ltd)}}& & & & \\ & \text{Vendor A/c}& \text{Dr.}& & 2,00,000& \\ & \text{To Equity Share Capital A/c}& & & & 1,60,000\\ & \text{To Securities Premium Reserve A/c}& & & & 40,000\\ & \text{(Being purhase consideration on Rs 2,00,000 is settled by}& & & & \\ & \text{issuing equity shares of Rs 10 each at a premium of}25\%)& & & & \end{array}$