=+These proposals were duly approved and put into effect. A offered to the ordinary shareholders of Β ten of its own shares taken as valued at 22/6d each and £4 in cash for each ten shares of B, and this offer was accepted in respect of all except 5,000 shares of B. The liquidator of C sold all that company's assets to A, all at book values except for the goodwill, for £51,000, which was settled as to £6,000 in cash (out of which the liquidator paid the company's creditors) and as to the balance by the issue of 40,000 new shares of A valued at 22/6d per share.

Record the foregoing transactions in the form of journal entries in the books of A and draw up a balance sheet showing the position of A

(only) after completion.