Page 123 - DCOM205_ACCOUNTING_FOR_COMPANIES_II

Accounting for Companies – II

notes equity shareholders’ a/c
particulars ` particulars `
To Profit and Loss A/c 7,00,000 By Equity Share Capital 12,00,000
To Equity shares in By Realisation A/c (profit on realisation) 5,60,000
Abhijeet (2011) Ltd. 4,00,000
To 11% Preference shares
In Abhijeet (2011) Ltd. 6,00,000
To Bank A/c 60,000
17,60,000 17,60,000

10% preference shareholders’ a/c
particulars ` particulars `
To Preference Shares in By 10% Preference share
Abhijeet (2011) Ltd. 8,00,000 Capital A/c 8,00,000
8,00,000 8,00,000

abhijeet (2011) ltd.’s a/c
particulars ` particulars `
To Realisation A/c (Purchase
Consideration) 18,00,000 By Equity shares in
Abhijeet (2011) Ltd. 4,00,000
By 11% Pref. Share in
Abhijeet (2011) Ltd.
(8,00,000+6,00,000) 14,00,000
18,00,000 18,00,000

Bank a/c
particulars ` particulars `
To Realisation A/c (debtors By Realisation A/c
realisation) 3,00,000 (payment of creditors) 2,20,000
By Realisation A/c
(Liquidation Expenses) 20,000
By Equity Shareholders A/c 60,000
3,00,000 3,00,000

Journal of abhijeet (2011) ltd.
Date particulars l.f. ` `
Business Purchase A/c Dr. 18,00,000
To Liquidators of Abhijeet Ltd. 18,00,000
(Being purchase price due to the liquidators of
Abhijeet Ltd.)
Buildings A/c Dr. 6,00,000
Plant & Machinery A/c Dr. 2,80,000
Stock A/c Dr. 1,20,000

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