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Bharat Lamp Ltd. issued 30,000 fully paid-up shares of ₹ 100 each for purchase of the following assets and liabilities from Sharma & Co: Plant ₹ 7,00,000 Stock-in-Trade ₹ 9,00,000 Land and Building ₹ 12,00,000 Sundry Creditors ₹ 2,00,000 You are required to pass necessary Journal entries.

Answer» Bharat Lamp Ltd. issued 30,000 fully paid-up shares of ₹ 100 each for purchase of the following assets and liabilities from Sharma & Co:

















Plant ₹ 7,00,000 Stock-in-Trade ₹ 9,00,000
Land and Building ₹ 12,00,000 Sundry Creditors ₹ 2,00,000



You are required to pass necessary Journal entries.


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