And please explain this one too - Accountancy - Accounting for Share Capital

Question

And please explain this one too?

Pushpak Popli · Accepted Answer

Dear Students,

In the books of Zelda Ltd
Journal

Date
Particulars

L F
Dr (Rs )
Cr (Rs )

Sundry assets A/c
To sundry liabilities
To Glider Ltd
To Capital Reserve A/c
(Assets and liabilities of Glider Ltd purchased)
Dr

7,00,000

2,00,000
4,59,500
40,500

Glider Ltd
To equity share capital A/c (41,000×10)
To securities premium reserve A/c (41,000×1)
To Bank A/c
(41,000 shares issued to Glider Ltd of Rs 10 each at a premium of
Rs 1 per share)
Dr

4,59,500

4,10,000
41,000
8,500

Regards

Date	Particulars		L.F.	Dr.(Rs.)	Cr.(Rs.)
	Sundry assets A/c To sundry liabilities To Glider Ltd. To Capital Reserve A/c (Assets and liabilities of Glider Ltd. purchased)	Dr.		7,00,000	2,00,000 4,59,500 40,500
	Glider Ltd. To equity share capital A/c (41,000×10) To securities premium reserve A/c (41,000×1) To Bank A/c (41,000 shares issued to Glider Ltd. of Rs. 10 each at a premium of Rs.1 per share)	Dr.		4,59,500	4,10,000 41,000 8,500