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A company 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 balance through cheque. The assets and liabilities consisted of the following: You are required to pass necessary journal entries in the company’s books.

Answer»

tion:A company 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 balance through cheque.The assets and liabilities consisted of the following:You are REQUIRED to pass NECESSARY journal entries in the company’s BOOKS.



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