Dear Student Journal in the books of X Ltd Date Particulars Debit Credit Bank A/c (2000000 x 15) Dr 30,000,000 To Share Application A/c 30,000,000 (Being Application money received on 2000000 shares) Share Application A/c Dr 1,20,00,000 To Share Capital A/c (750000 x 10) 7,500,000 To Securities Premium A/c (750000 x 5) 3,750,000 To Bank A/c (50000 x 15) 750,000 (Being Out of 2000000 shares 750000 allotted 50000 shares rejected and remaining money left in share application account) Share Application A/c Dr 1,80,00,000 To Bank A/c 1,80,00,000 (Being All extra money refunded as share are already fully paid up) Two Values: 1 Corporate social responsibility 2 Backward area development Regards

Q6

Q6 0 01 A laximurn number of partne th that provides for the maximum numb rship firm can have? N the Act -t r.e n a partnership firm _ (i) To provide employment to t Chattisgarh. X Ltd. decided to se - develop the Naxal affected backward areas of plant. For raising funds the company decided to issue 7,50,000 equity sha ach at a premium of 50%. The whole amount was payable on applicatio s or shares were received. Applicauorts 50,000 shares were re cte n h reÄFöre-aIlotted to the remaining applicants on pro-rata Pass necessary jo •nal en 'e for the above transactions in the books of the companyand identify any val andesh Ltd. o ver e assets of Rs and liabilities of Rs fromSan Ltd. fo urc s gonsideration of Rs 4,59,500. Rs 8500 were paid by accepting a draft Ltd. payable after three months and the balance was paid by issue avouro a qui shar s o 10 each at a premium of 10% in favour of Sanchar Ltd.(3) t -ee circumstances other than (i) admission of a new partner; retirement h sea (iii) death of a partner, when need for valuation of goodwill of a firm may a a d Q were partners in a firm sharing pt fits in the ratio of 5•.3. On 1-4-2014 as a new partner for 1/8th share in the prol s with a guaranteed profit of Rs 75,00 sharing ratio between P and Q will remain the same but they agreed to bear any def t of guarantee to R in the ratio 3:2. The profit of the firm for the year ended 31-3-2( pare Proft and Loss Appropriatiön Account of P, Q and R for the yeay ended 3

Dear Student

Journal in the books of X. Ltd.
Date	Particulars		Debit	Credit
	Bank A/c (2000000 x 15)	Dr.	30,000,000
	To Share Application A/c			30,000,000
	(Being Application money received on 2000000 shares)

	Share Application A/c	Dr.	1,20,00,000
	To Share Capital A/c (750000 x 10)			7,500,000
	To Securities Premium A/c (750000 x 5)			3,750,000
	To Bank A/c (50000 x 15)			750,000
	(Being Out of 2000000 shares 750000 allotted 50000 shares rejected and remaining money left in share application account)

	Share Application A/c	Dr.	1,80,00,000
	To Bank A/c			1,80,00,000
	(Being All extra money refunded as share are already fully paid up)

Two Values: 1. Corporate social responsibility 2. Backward area development.

Regards

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