18 November 2010
Plz read the questions carefully. Q 1. A co. issued 1,500 fully paid up equity shares of Rs. 100 each 4 d purchase of d followin assets n liabilities: Plant Rs. 35,000; Stock Rs. 45,000 Land n building Rs. 60,000; creditors Rs. 10,000. What entry is passed.
Q2. In current year (ending on 31.12.2009) receipts n payments a/c Rs. 40 is paid taxes. Adjustments: Taxes amounting to Rs. 40 per year have been paid upto 31st march, 2010. is dere b any last year's prepaid taxes.
18 November 2010
1. Dr Plant Rs.35000 Dr Stock Rs.45000 Dr L&B Rs.60000 Dr Goodwill 20000 Cr Creditors Rs10000 Cr Paid up sh Cap Rs.150000 2.Coundnot understand the Q?
19 November 2010
thnx sir. Actually i teach accountancy upto graduation. but i confused in above Questions. i hv still doubt. is goodwill correct.......sir. but the company is not purchasing business.. not amalgamating. it is just a case of issue of shares for consideration other than cash.
dere is same Q: A co. purchased machinery for Rs. 4,00,000 and Rs. 1,00,000 paid by cheque and balance by issue of shares of Rs. 3,30,000. wht wuld b answer sir? sir i m not judging u just hv doubts.
D 2nd Question was: During current year (ending on 31.12.2009) receipts n payments a/c shows Rs. 40 as taxes paid.
outside rec n payments a/c an adjustment is given: Taxes amounting to Rs. 40 per year have been paid upto 31st march, 2010 is dere b any last year's prepaid taxes.
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