Q.1) Rajan Ltd. purchased assets from Geeta & Co. for ₹5,00,000.

A sum of ₹1,00,000
was paid by means of a bank draft and for the balance due Rajan Ltd. issued Equity
Shares of ₹10 each at a premium of 25%. Journalize the above transactions in the books
of the company.
Q.2) Nikhil Ltd. purchased a running business from Sonia Ltd. for a sum of ₹22,00,000
by issuing 20,000 fully paid equity shares of ₹100 each at a premium of 10%. The assets
and liabilities consisted of the following:
Machinery ₹7,00,000; Debtors ₹2,50,000; Stock ₹5,00,000; Building ₹11,50,000 and
bills payable₹2,50,000.
Pass necessary journal entries in the looks of Nikhil Ltd. for the above transactions
Q.3) X Ltd. acquired Machinery of ₹ 64,00,000 from Y Ltd. Paid ₹16,00,000 through
cheque and for the balance amount company issued 8% Debentures of ₹ 100 each at
a discount of 20%.
Record necessary journal entries in the books of X Ltd.
Q.4) X Ltd. Purchased a Furniture from Y Ltd. Consideration paid as follow
A) issued Equity shares of ₹1,00,000 face value of ₹10 each at 10% Premium.
B) 5,000 9% Debentures of 100 each at 10% Discount.
C) cheque ₹4,00,000 and
D) 6 months Bill payable of ₹45,000 find out the value of building
Find the Value of furniture and Pass the necessary journal entries in the books of Y ltd.
Q.5) Pioneer Fitness Ltd. took over the running business of Healthy World Ltd. having
assets of ₹10,00,000 and liabilities of ₹ 1,70,000 by:
a) Issuing 8,000 8% Debentures of ₹ 100 each at 5% premium redeemable after 6 years
@ ₹ 110; and
b) Cheque for ₹ 50,000.
Pass the Journal entries in the books of Pioneer Fitness Ltd.
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