A company issued 10,000 shares of Rs. 100 each at a premium of 20% to purchase the following assets:
| Land & building | Rs. 4,00,000 |
| Debtors | Rs. 2,50,000 |
| Furniture | Rs. 1,00,000 |
| Stock | Rs. 50,000 |
Required: Journal entries for purchase of assets and liabilities.
Ans: Goodwill Rs. 4,00,000
Asked Years
