Random Ltd. took over running business of Mature Ltd. comprising of Assets of ₹45,00,000 and Liabilities of ₹6,40,000 for a purchase consideration of ₹36,00,000. The amount was settled by bank draft of ₹1,50,000 and balance by issuing 12% preference shares of ₹100 each at 15% premium. Pass entries in the books of Random Ltd.

Marks-3, CBSE:2022-23/Sample/Q-19*

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