Reference no: EM13538486

Bright Ltd. was registered with a share capital of Rs.10,00,000 in equity shares of Rs.10 each. The company acquired factory building worth Rs.1,00,000 and plant and machinery worth 80,000 from Delite Ltd. and issued 18,000 equity shares of Rs.10 each to the vendors as fully paid-up. The directors also decided to allot 2,000 equity shares credited as full paid to the promoters for their services. Further capital was issued to the public for cash to the extent of Rs.3,00,000 payable in full with the application. All the shares were taken up by the public and fully paid for. Show the necessary journal entries and the balance sheet.