Question

ILLUSTRATION 27 (Missing Information/Figure: Issue of Shares to Vendors)
Potter Ltd. was just confined into Agricultural Pesticides business, therefore facing financial crisis
due to seasonal business. Harry Ltd, found this opportunity useful and purchased following assets
of Potter Ltd. Machinery 20,00,000; Trade Receivables 7,00,000; Furniture 15,00,000.
Harry Ltd. also assumed the following liabilities of Potter Ltd. Sundry Creditors ? 13,00,000.
Harry Ltd. was having high debt equity ratio and hence to reduce debt equity ratio and to increase
its credibility in the market the management of the Harry Ltd. decided to issue equity shares in
purchase consideration of assets and liabilities.
Fill is the missing figures/information in the following journal entries.​

Answer 1

Explanation:

“Great minds are always feared by lesser minds.” “Confidence is ignorance. If you're feeling cocky, it's because there's something you don't know.” “The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.”