Q Company Ltd. purchase the following assets of R Company Ltd. at an agreed price of Rs. 4,40,000.
| Machinery | Rs. 3,20,000 |
| Stock | Rs. 2,10,000 |
The purchase price paid by issuing shares of Rs.100 each at 10% premium.
Required: Journal entries for assets purchase by issuing shares.
Ans: Capital reserve Rs. 90,000
Asked Years
