Pass journal entries for the following transactions:
- AXN Ltd. forfeited 2,400 shares of ₹10 each for non-payment of final call of ₹3 per share. Out of the forfeited shares, 800 shares were reissued at 8 per share as fully paid-up.
Vanya Ltd. purchased a running business from Hardik Ltd. for a sum of ₹18,00,000. The payment of ₹10,00,000 was made by issue of equity shares of ₹10 each and balance by a cheque. The assets and liabilities acquired from Hardik Ltd. consisted the following:
₹ | |
---|---|
Machinery | 9,00,000 |
Land and Building | 13,50,000 |
Furniture | 8,50,000 |
Sundry Creditors | 3,00,000 |
Marks-8, CBSE:2020-21/Compartment/Q-22*