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Solution - Issue at Par and Premium and at Discount

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B' Ltd. took over the assets of Rs.14,00,000 and liabilities of Rs.4,00,000 of C Ltd. for a purchase consideration of Rs.9,19,000. Rs.17,000 were paid by a bank draft in favour of C Ltd. and the balance was paid by issue of equity shares of Rs.10 each at a premium of 10% in favour of C Ltd.

Pass necessary journal entries for the above transactions in the books of B Ltd.

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Solution for concept: Issue at Par and Premium and at Discount. For the courses CBSE (Arts), CBSE (Commerce), CBSE (Science)
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