A company purchased the following assets at an agreed price of Rs. 5,50,000.
| Plant | Rs. 2,60,000 |
| Building | Rs. 3,65,000 |
The company paid the agreed price by issuing shares of Rs. 100 each at 10% premium.
Required: Entries for purchase of assets and issue of shares.
Ans: Capital reserve Rs. 75,000
Asked Years
