Question

ABC Ltd. purchased a running business from XYZ Ltd. for a sum of 10,00,.000 payable
by the issued of fully paid Equity Shares of 100 each at a premium of 25%. The assets and
liabilities consisted of the following:
Building 5,00,000, Machinery 4,00,000, Sundry Debtors *1,00,000, Sundry Creditors?
2,00,000.
Pass the necessary Journal Entries in the books of ABC Ltd.​

Answer 1

Answer:

Brothers this question is very easy but all payments is might be in correct