45 :- Mangla Cortubi Ltd. Took over a unit of Mangla Tubes Ltd. consisting of Machinery – Rs 40,00,000. Tools and Dies – Rs 10,00,000 and Liabilities of Rs 25,00,000 for a consideration of Rs 20,00,000. The consideration was paid by issuing Equity Shares of Rs 10 each at a premium of Rs 5.
You are required to pass the Journal entries in the books of Mangla Cortubi Ltd.
Solution :-
