The solution to Question number 45 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition
Mangla Cortubi Ltd. took over a unit of Mangla Tubes Ltd. consisting of Machinery – ₹ 4,00,000, Tools and Dies – ₹ 10,00,000 and Liabilities of ₹ 25,00,000 for a consideration of ₹ 20,00,000. The consideration was paid by issuing Equity Shares of ₹ 10 each at a premium of ₹ 5.
You are required to pass the journal entries in the books of Mangla Cortubi Ltd.
Solution:-
