Question - 41

Pass necessary journal entires for the following transactions in the books of Gopal Ltd:

  1. Purchased furniture for Rs. 2,50,000 from M/s furniture Mart. The payment to M/s furniture Mart was made by issuing euity shares of Rs. 10 each at a premium of 25%.
  2. Purchased a running business for Aman Ltd. for a sum of Rs. 15,00,000 the payment of Rs. 12,00,000 was made by issue of fully paid equity shares of Rs. 10 each and balance by a bank draft the assets and liabilities consisted of the following : plant Rs. 3,50,000; Stock Rs. 4,50,000; Land and Building Rs. 6,00,000; Sundry creditors Rs. 1,00,000.
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