Question

Rancho Ltd. took over assets worth ₹ 20,00,000 from PK Ltd. by paying 30% through bank draft and balance by issue of shares of ₹ 100 each at a premium of 10%. The entry to be passed by Rancho Ltd for settlement will be:

विकल्प

• PK Ltd.    ...Dr.	20,00,000
  To Share Capital A/c		12,72,700
  To Securities Premium A/c		1,27,270
  To Bank A/c		6,00,000
  To Statement of P & L		30
  (Being settlement of amount due to vendors)

• PK Ltd.    ...Dr.	20,00,000
  To Share Capital A/c		12,72,700
  To Securities Premium A/c		1,27,270
  To Bank A/c		6,00,030
  (Being settlement of amount due to vendors)

• PK Ltd.    ...Dr.	20,00,000
  To Share Capital A/c		12,72,700
  To Securities Premium A/c		1,27,300
  To Bank A/c		6,00,000
  (Being settlement of amount due to vendors)

• PK Ltd.    ...Dr.	20,00,000
  To Share Capital A/c		12,73,000
  To Securities Premium A/c		1,27,300
  To Bank A/c		5,99,700
  (Being settlement of amount due to vendors)

Answer 1

PK Ltd.    ...Dr.	20,00,000
To Share Capital A/c		12,72,700
To Securities Premium A/c		1,27,270
To Bank A/c		6,00,030
(Being settlement of amount due to vendors)