Question

Tagor Ltd purchased a running business from Tulsi bros. for a sum of 4800000 payable by the issues of fully paid equity shares of rs. 20 each at a premium of 20 percent. The liabilities and assets cosisted of the following
Plant and machinery 2500000 Stock rs. 1500000
Debtors rs. 860000 creditors rs. 300000
Pass the journal entries in the books of Tagore Ltd.

Answer 1

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Answer 2

Explanation:

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