A company Ltd took over the following assets and liabilities of a Vendor Company at an agreed price of Rs. 14,30,000.
| Debtors | Rs. 3,50,000 |
| Loan | Rs. 3,00,000 |
| Creditors | Rs. 8,00,000 |
| Furniture | Rs. 8,00,000 |
| Equipment | Rs. 6,00,000 |
| Inventories | Rs. 2,00,000 |
The company paid the purchase price by issuing equity shares of Rs. 100 each at 10% premium.
Required: Journal entries for purchase of assets and liabilities.
Ans: Goodwill Rs. 5,80,000
Asked Years
