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Show the necessary journal entries in the books of x ltd

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Problem 1: X Ltd. purchased the business of Y Ltd, for Rs. 90,000 payable in fully paid shares. X Ltd. Allotted equity shares of Rs. 10 each fully paid in satisfaction of claim by Y ltd. Show the necessary journal entries in the books of X ltd. assuming that:

a) Such shares are issued at par
b) Such shares are issued at a premium of 10%
c) Such shares are issued at a discount of 5%

Reference no: EM132668857

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