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Pass the journal entry if assets and liabilities are taken

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Reference no: EM133004200

Question -

a) What do you mean by issue of shares in consideration other than cash?

b) Pass the journal entry if assets and liabilities are taken over from Tri Star limited company from the following particulars

i. Sundry assets Rs. 500,000

ii. Sundry liabilities Rs. 450,000

c) How premium on shares can be utilized under the legal provision of company's ordinance?

Reference no: EM133004200

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