The Total solution for NCERT class 6-12
Case (a)
Books of Kumar Ltd
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Sundry Assets A/c
Dr.
6,30,000
To Bhanu Oil Ltd
(Assets purchased from Bhanu Oil Ltd.)
(a)
Bhanu Oil Ltd
To Share Capital A/c
(6,300 shares issued at par to Bhanu Ltd.)
Case (b)
5,25,000
To Securities Premium A/c
1,05,000
(5,250 share are issued at 20% premium to Bhanu Ltd. in consideration of assets purchased)