Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and the balance through cheque
Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and the balance through cheque.
The assets and liabilities consisted of the following:
You are required to pass necessary Journal entries in the company’s books:
[Ans.: Capital Reserve – ₹ 1,00,000.]
| Plant and Machinery | ₹ 4,00,000 |
| Building | ₹ 4,00,000 |
| Sundry Debtors | ₹ 3,00,000 |
| Stock | ₹ 4,00,000 |
| Cash | ₹ 3,00,000 |
| Sundry Creditors | ₹ 2,00,000 |
Anurag Pathak Changed status to publish September 3, 2023
