1.

A co. issued 15000 fully paid up share of the 100 each for tha purchase of tha following assets and liability from mohan brother , Land and Building 600000, Plant 350000, stock 450000, sundry creditors 100000 . pass necessary journal entry

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Answer:

₹25500 were PAID by issuing promissory note in favour of P Ltd. payable after TWO months and the balance was paid by issue of equity shares of ₹100 each at a PREMIUM of 25%. Pass NECESSARY journal ENTRIES for the above transactions in the books of K Ltd. ... Sundry assets A/C Dr ...



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