37 :- Random Ltd. took over running business of Mature Ltd. comprising of Assets of Rs 45,00,000 and Liabilities of Rs 6,40,000 for a purchase consideration of Rs 36,00,000. The amount was settled by bank draft of Rs 1,50,000 and balance by issuing 12% Preference Shares of Rs 100 each at 15% premium. Pass entries in the books of Random Ltd.
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