Issue of share other than cash | OLD is GOLD | Account

Particular

Debit

Credit

Furniture a/c Dr

Machinery a/c Dr

Bills receivable a/c Dr

Sundry debtors a/c Dr

Inventories a/c Dr

Good will a/c Dr

     To sundry creditors a/c

     To D company

(Being assets and liabilities taken over)

50000

60000

15000

15000

25000

45000

30000

180000

D company a/c Dr

Discount on issue of share a/c Dr

      To share capital

(Being issue of 2000 equity share of Rs 90 each to D company)

180000

20000

200000

Particular

Debit

Credit

Debtors a/c Dr

Building a/c Dr

Machinery a/c Dr

Furniture a/c Dr

Good will a/c Dr

  To Bills payable a/c

  To creditors a/c

   To Q company Ltd (9000*110)

(Being assets and liabilities taken over)

50000

700000

160000

60000

120000

10000

90000

990000

Q company a/c Dr

    To premium on issue of share a/c

    To share capital a/c

(Being issue of 9000 equity shares of Rs 110 each to Q. company)

990000

90000

900000

Particular

Debit

Credit

Furniture a/c Dr

Machinery a/c Dr

Inventory a/c Dr

Good will a/c Dr

     To Creditors

     To Pashupati Company Ltd.

(Being assets and liabilities taken over)

200000

400000

250000

50000

50000

850000

Pashupati Company Ltd. a/c Dr

      To premium on issue of share a/c

      To Share capital

(Being issue of 7737 equity share of Rs 110 each to Pashupati company)

850000

77270

772730

Particular

Debit

Credit

Fixed assets a/c Dr

Current assets a/c Dr

    To Loan a/c

    To creditors a/c

    To P company

    To capital reserve

(Being assets and liabilities taken over)

600000

200000

100000

50000

600000

50000

P company a/c Dr

   To premium on issue of share a/c

   To share capital

(Being issue of equity share of Rs each to P company)

600000

100000

500000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Stock a/c Dr

Good will a/c Dr

   To Creditors a/c

   To Kathmandu company a/c

(Being assets and liabilities taken over)

400000

200000

150000

250000

50000

950000

Kathmandu company a/c Dr

Discount on issue of share a/c Dr

     To share capital

(Being issue of 10000 equity share of Rs 90 each to Kathmandu company)

950000

50000

1000000

Particular

Debit

Credit

Furniture a/c Dr

Debtors a/c Dr

Stock a/c Dr

Good will a/c Dr

    To creditors a/c

    To bank loan a/c

     To A company a/c

(Being assets and liabilities taken over)

2000000

1000000

300000

 140000

1200000

500000

3000000

A company a/c Dr

   To share capital

(Being issue of 30000 equity share of Rs 100 each to A company)

3000000

3000000

Particular

Debit

Credit

Building a/c Dr

Debtors a/c Dr

Machinery a/c Dr

Good will a/c

     To creditors a/c

     To outstanding expenses a/c

     To vendor company a/c

(Being assets and liabilities taken over)

250000

200000

200000

100000

150000

50000

550000

Vendor a/c Dr

     To premium on issue of share a/c

     To Share capital a/c

(Being issue of 5000 equity share of Rs 110 each to company)

550000

50000

500000

Particular

Debit

Credit

Building a/c Dr

Furniture a/c Dr

Debtors a/c Dr

Good will a/c Dr

     To Creditors a/c

     To Outstanding expenses

     To vendor company a/c

(Being assets and liabilities taken over)

400000

100000

100000

100000

80000

20000

600000

Vendor company a/c Dr

     To Share capital a/c

(Being issue of 6000 equity share of Rs 100 each to company)

600000

600000

Particular

Debit

Credit

Land and building a/c Dr

Machinery a/c Dr

Debtors a/c Dr

Good will a/c Dr

    To Creditors a/c

    To 10% debenture a/c

    To vendor company a/c

(Being assets and liabilities taken over)

1100000

500000

130000

20000

300000

350000

1100000

Vendor company a/c Dr

       To share capital

       To premium on issue of share a/c

(Being issue of 10000 equity share of Rs 110 each to company)

1100000

100000

1000000

Particular

Debit

Credit

Machinery a/c Dr

Debtors a/c Dr

Inventory a/c Dr

Goodwill a/c Dr

    To creditors a/c

    To S. company Ltd.

(Being assets and liabilities taken over)

300000

100000

150000

50000

200000

550000

S. company ltd. a/c Dr

       To share capital

       To premium on issue of share

(Being issue of 5000 equity share of Rs 100 each to S. company)

550000

500000

50000

Particular

Debit

Credit

Land and building a/c Dr

Debtors a/c Dr

Furniture a/c Dr

Stock a/c Dr

Good will a/c Dr

    To debenture a/c

    To Creditors a/c

    To vendor company

(Being assets and liabilities taken over)

400000

250000

100000

50000

700000

100000

200000

1200000

Vendor company a/c Dr

   To share capital

   To premium on issue share a/c

(Being issue of 10000 equity share of Rs 120 each to company)

1200000

200000

1000000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

    To creditors a/c

    To vendor company a/c

(Being assets and liabilities taken over)

500000

150000

100000

550000

Vendor company a/c Dr

    To share capital

    To premium on issue of share a/c

(Being issue of 5000 equity share of Rs 100 each to company)

550000

50000

500000

Particular

Debit

Credit

Assets a/c Dr

Goodwill a/c Dr

   To liabilities a/c

     To B. company a/c

(Being assets and liabilities taken over)

1500000

40000

220000

1320000

B. company a/c Dr

     To share capital a/c

     To premium on issue of share a/c

(Being issue of 12000 equity share of Rs 110 each to company)

1320000

1200000

120000

Liabilities

Amt

Assets

Amt

Liabilities

Share capital

Premium on issue of share

220000

1200000

120000

Assets

Good will

1500000

40000

1540000

1540000

Particular

Debit

Credit

Land and building a/c Dr

Machinery a/c Dr

Good will a/c Dr

    To Bills payable

    To vendor company

(Being assets and liabilities taken over)

800000

100000

50000

50000

900000

Vendor company a/c Dr

 Discount on issue of share a/c Dr

     To share capital

(Being issue of 10000 equity share of Rs 90 each to company)

900000

100000

1000000

Particular

Debit

Credit

Land and building a/c Dr

Furniture a/c Dr

Debtors a/c Dr

Good will a/c Dr

    To bills payable a/c

     To creditors a/c

     To vendor company

(Being assets and liabilities taken over)

700000

40000

60000

100000

5000

300000

495000

Vendor company a/c Dr

     To premium on issue of share a/c

      To share capital a/c

(Being issue of 4500 equity share of Rs 110 each to company)

495000

45000

450000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Goodwill a/c Dr

     To Creditors a/c Dr

     To vendor company

(Being assets and liabilities taken over)

200000

250000

100000

50000

500000

Vendor company a/c Dr

     To share capital

(Being issue of 500 equity share of Rs 100 each to company)

500000

500000

Particular

Debit

Credit

Machinery a/c Dr

Debtors a/c Dr

Furniture a/c Dr

Inventories a/c Dr

    To O/S payable

    To creditors

    To bank loan

    To X company

    To capital reserve

(Being assets and liabilities taken over)

1000000

50000

500000

100000

100000

150000

200000

1100000

100000

X company a/c Dr

   To share capital a/c

   To premium on issue of share a/c

(Being issue of 10000 equity share of Rs 100 each to X company)

1100000

1000000

100000

Particular

Debit

Credit

Debtors a/c Dr

Furniture a/c Dr

Equipment a/c Dr

Inventories a/c Dr

Good will a/c Dr

    To creditors a/c

    To Loan a/c

    To A company Ltd.

(Being assets and liabilities taken over)

350000

800000

600000

200000

580000

800000

300000

1430000

A company ltd. a/c Dr

    To share capital

    To premium on issue of share a/c

(Being issue of 13000 equity share of Rs 110 each to company)

1430000

130000

1300000

Particular

Debit

Credit

Land and building a/c Dr

Machinery a/c Dr

Inventories a/c Dr

Goodwill a/c Dr

    To creditors a/c

    To vendor company

(Being assets and liabilities taken over)

500000

300000

50000

60000

30000

880000

Vendor company a/c Dr

    To share capital a/c

     To premium on issue of share a/c

(Being issue of 8000 equity share of Rs 110  each to company)

880000

800000

80000

Particular

Debit

Credit

Current assets a/c Dr

Furniture a/c Dr

Oher fixed assets a/c Dr

Good will a/c Dr

    To current liabilities

    To vendor company a/c

(Being assets and liabilities taken over)

200000

150000

120000

50000

300000

1300000

Vendor company a/c Dr

    To vendor company

(Being issue of 13000 equity share of Rs 100 each to company)

1300000

1300000

Particular

Debit

Credit

Furniture a/c Dr

Plant and Machinery a/c Dr

Stock a/c Dr

    To creditors a/c

    To bills payable a/c

    To vendor company a/c

    To capital reserve

(Being assets and liabilities taken over)

100000

700000

400000

150000

30000

1000000

20000

Vendor company a/c Dr

    To share capital

(Being issue of 10000 equity share of Rs 100 each to company)

1000000

1000000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Stock a/c Dr

Sundry debtors a/c Dr

Goodwill a/c Dr

   To sundry creditors

   To B co. Ltd.

(Being assets and liabilities taken over)

150000

100000

50000

30000

30000

60000

300000

B co ltd. a/c Dr

    To share capital

(Being issue of 3000 equity share of Rs 100 each to company)

300000

300000

Particular

Debit

Credit

Machinery a/c Dr

Stock a/c Dr

Good will a/c Dr

     To creditors a/c

     To N. Company Ltd.

(Being assets and liabilities taken over)

300000

150000

20000

30000

440000

N. co Ltd. a/c Dr

     To share capital

     To premium on issue of share a/c

(Being issue of 4000 equity share of Rs 110 each to company)

440000

400000

40000

Particular

Debit

Credit

Debtors a/c Dr

Equipment a/c Dr

Furniture a/c Dr

Books a/c Dr

    To loan payable

    To creditors

    To vendor company

    To capital reserve

(Being assets and liabilities taken over)

800000

2500000

1200000

2100000

500000

1500000

4200000

400000

Vendor company a/c Dr

    To share capital a/c

    To premium on issue of share a/c

(Being issue of 40000 equity share of Rs 105 each to company)

4200000

4000000

200000

Particular

Debit

Credit

Land and building a/c Dr

Furniture a/c Dr

Stock a/c Dr

   To creditors

   To vendor company

   To capital reserve

(Being assets and liabilities taken over)

200000

50000

60000

20000

270000

20000

Vendor company a/c Dr

Discount on issue of share a/c Dr

     To share capital

(Being issue of equity share of Rs each to company)

270000

30000

300000

Particular

Debit

Credit

Building a/c Dr

Machinery a/c Dr

Furniture a/c Dr

Debtors a/c Dr

    To outstanding expenses a/c

    To creditors

    To 10% debenture

    To vendor company a/c

    To capital reserve a/c

(Being assets and liabilities taken over)

2500000

1000000

200000

300000

100000

500000

800000

2520000

80000

Vendor company a/c Dr

    To premium on issue of share a/c

    To share capital a/c

(Being issue of 24000 equity share of Rs 105 each to company)

2520000

120000

2400000

Particular

Debit

Credit

Building a/c Dr

Sundry debtors a/c Dr

Inventories a/c Dr

    To creditors a/c

    To bank overdraft

    To vendor company

    To capital reserve

(Being assets and liabilities taken over)

200000

80000

80000

70000

30000

230000

30000

Vendor company a/c Dr

    To premium on issue of share a/c

    To share capital

(Being issue of 3000 equity share of Rs 115 each to company)

230000

30000

200000

Particular

Debit

Credit

Land and building a/c Dr

Plant and machinery a/c Dr

Furniture a/c Dr

Sundry debtors a/c Dr

Good will a/c Dr

     To creditors

     To sundry bills payable

     To X co. Ltd.

(Being assets and liabilities taken over)

600000

300000

50000

90000

30000

50000

30000

990000

X co. ltd. a/c Dr

   To premium on issue of share a/c

    To share capital

(Being issue of 1000 equity share of Rs 112 each to company)

112000

12000

100000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Stock a/c Dr

To Good will a/c

    To creditors a/c

    To vendor company

(Being assets and liabilities taken over)

100000

50000

60000

30000

20000

220000

Vendor company a/c Dr

     To share capital a/c

     To premium on issue of share a/c

(Being issue of 2000 equity share of Rs 110 each to company)

220000

200000

20000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Debtors a/c Dr

Good will a/c Dr

    To creditors a/c

    To Loan a/c

     To vendor company

(Being assets and liabilities taken over)

500000

200000

300000

700000

300000

300000

1100000

Vendor company a/c Dr

    To share capital

     To premium on issue of share a/c

(Being issue of 10000 equity share of Rs 110 each to company)

1100000

1000000

100000

Particular

Debit

Credit

Equipment a/c Dr

Furniture a/c Dr

Debtors a/c Dr

Inventory a/c Dr

    To creditors a/c

    To outstanding expenses a/c

    To H. company a/c

     To capital reserve

(Being assets and liabilities taken over)

650000

300000

200000

500000

400000

100000

1050000

100000

H. company a/c Dr

    To share capital

     To premium on issue of share a/c

(Being issue of 10000 equity share of Rs 105 each to H. company)

1050000

1000000

50000

Particular

Debit

Credit

Fixed assets a/c Dr

Current assets a/c Dr

    To bank a/c

     To A co. Ltd.

     To capital reserve

(Being assets and liabilities taken over)

275000

100000

50000

220000

105000

A co. ltd. a/c Dr

   To share capital a/c

    To premium on issue of share a/c

(Being issue of 2000 equity share of Rs 110 each to company)

220000

200000

20000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Stock a/c Dr

    To sundry creditors a/c

    To outstanding expenses

     To B. company

     To capital reserve

(Being assets and liabilities taken over)

410000

40000

75000

30000

15000

450000

30000

B. company a/c Dr

Discount on issue of share a/c Dr

     To share capital a/c

(Being issue of 5000 equity share of Rs 90 each to company)

450000

50000

500000

Particular

Debit

Credit

Plant and Machinery a/c Dr

Furniture a/c Dr

Stock a/c Dr

Goodwill a/c Dr

    To sundry creditors

     To X. Co. Ltd.

(Being assets and liabilities taken over)

200000

50000

50000

40000

40000

500000

X. Co. Ltd. a/c Dr

    To share capital

(Being issue of 3000 equity share of Rs 100 each to company)

300000

300000

Particular

Debit

Credit

Machinery a/c Dr

Furniture a/c Dr

Sundry debtors a/c Dr

Good will a/c Dr

    To sundry creditors

     To sundry loan

     To B. Co ltd.

(Being assets and liabilities taken over)

800000

300000

500000

100000

200000

300000

1200000

B. Co. Ltd a/c Dr

    To share capital

    To premium on issue of share a/c

(Being issue of 10000 equity share of Rs 120 each to B company)

1200000

1000000

200000

Particular

Debit

Credit

Plant and machinery a/c Dr

Sundry debtors a/c Dr

Furniture a/c Dr

Good will a/c Dr

    To sundry creditors a/c

     To X.CO. Ltd

(Being assets and liabilities taken over)

200000

90000

100000

10000

40000

360000

X. co Ltd.a/c Dr

Discount on issue of share a/c Dr

    To share capital a/c

(Being issue of 4000 equity share of Rs 90 each to company)

360000

40000

400000

Particular

Debit

Credit

Building a/c Dr

Machinery a/c Dr

Debtors a/c Dr

  To creditors

  To outstanding expenses a/c

  To B. co. ltd.

   To capital reserve a/c

(Being assets and liabilities taken over)

500000

200000

80000

80000

20000

630000

50000

B. Co. Ltd. a/c Dr

Discount on issue of share a/c Dr

    To share capital

(Being issue of 7000 equity share of Rs 90 each to company)

630000

70000

700000

Particular

Debit

Credit

Building a/c Dr

Vehicle a/c Dr

Sundry debtors a/c Dr

To good will a/c

    To sundry creditors

    To outstanding expenses

     To Meena company

 (Being assets and liabilities taken over)

400000

80000

100000

140000

90000

30000

600000

Liabilities

Amt

Assets

Amt

Sundry creditors

Outstanding expenses

Share capital

Premium on issue of share

90000

30000

500000

100000

Building a/c Dr

Vehicle a/c Dr

Sundry debtors a/c Dr

To good will a/c

400000

80000

100000

140000

720000

720000

Particular

Debit

Credit

Land & building a/c Dr

Sundry debtors a/c Dr

Stock in trade a/c Dr

Goodwill a/c Dr

    To sundry creditors

    To outstanding expenses

    To overdraft balance

    To N company

(Being assets and liabilities taken over)

250000

80000

20000

135000

60000

15000

10000

400000

Liabilities

Amt

Assets

Amt

To sundry creditors

To outstanding expenses

To overdraft balance

Share capital

60000

15000

10000

400000

Land & building

Sundry debtors

Stock in trade

Goodwill a/c Dr

250000

80000

20000

135000

148000

148000

Particular

Debit

Credit

Land and Building a/c Dr

Plant and machinery a/c Dr

Inventory a/c Dr

      To vendor company

(Being assets and liabilities taken over)

500000

200000

20000

720000