List of top Accountancy Questions on Issue of Shares asked in CBSE CLASS XII

Minimum subscription for allotment of shares as per Securities and Exchange Board of India (SEBI) guidelines cannot be less than 90% of ________ capital.

A Ltd. purchased a running business from B Ltd. for a sum of ₹ 6,00,000 payable by issue of 12,000 equity shares of ₹ 10 each at a premium of ₹ 10 per share. The assets and liabilities consisted of the following:}
Sundry Assets ₹ 6,45,000
Sundry Liabilities ₹ 90,000 Pass journal entries in the books of A Ltd.