Question

only for ACCOUNTS EXPERTS(no scam please)
16. ABC Ltd. purchased a running business from XYZ Ltd for a sum of ₹ 1,50,000 payable by issue of 10,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share and balance in cash. The assets and liabilities taken over were :
Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;
Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.
Pass Necessary Journal Entries.

Answer 1

Answer:

and liabilities taken over were :

Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;

Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.

Pass Necessary Journal Entries

Answer 2

Explanation:

Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;

Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.