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Only for ACCOUNTS EXPERTS(no scam please)16. ABC Ltd. purchased a running business from XYZ Ltd for a sum of ₹ 1,50,000 payable by issue of 10,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share and balance in cash. The assets and liabilities taken over were :Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.Pass Necessary Journal Entries.

Answer»

ANSWER:

and LIABILITIES TAKEN over were :

Plant-₹ 40,000; Building-₹ 40,000; Debtors-₹ 30,000;

Stock-₹ 50,000; Furniture-₹ 20,000; Creditors- ₹ 20,000.

Pass Necessary Journal Entries



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