A company issued 30,000 fully paid-up shares of Rs. 100 each for purchase of the following assets and liabilities from Sharma Co:
Plant |
Rs.7,00,000 |
Stock in Trade |
Rs.900,000 |
Land and Building |
Rs.12,00,000 |
Sundry Creditors |
Rs.2,00,000 |
You are required to pass necessary journal entries