Question

Z Itd was formed with authorized capital of 20,00,000 divided into equity shares of
10 each. It issued 5000 equity shares to promoters for incorporating the company.
subsequently purchased a running business from y Ltd for 36,00,000 payable 10% by
cbéque & balance by the issue of fully paid 10% debentures of 100 each at a
premium of 20%. The assets & liabilities were as follows-
Building 23,00,000 ; plant & machinery 1,00,000;
Stock 2,00,000; sundry debtors 1,00,000;sundry creditors 380,000.
Pass necessary journal entries in the books of Z Itd.​

Answer 1

Answer:

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