The following are the Balance Sheets of A Ltd. and B Ltd. as on 31.3.2016:

A new company C Ltd. was formed to take over the business of A Ltd. and B Ltd. ---- the purchase consideration being ₹ 12,00,000 for A Ltd. and ₹ 6,00,000 for B Ltd., payable in equity shares of ₹ 10 each in C Ltd. Debtors of A Ltd. included ₹ 50,000 due from B Ltd. The stock of B Ltd. included ₹ 25,000 worth of goods purchased from A Ltd., on which A Ltd. made a profit of 20% on sales. Show the journal entries in the books of A Ltd., B Ltd. and C Ltd. Also, prepare the Balance Sheet of C Ltd. as on 3.3.2016, assuming that the amalgamation is in the nature of merger.

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I. EQUITY AND LIABILITIES (1) Shareholders' Funds: Balance Sheets of A Ltd. and B Ltd. as at 31st March, 2016 A Ltd. (a) Share Capital Equity Share of 10 each (b) Reserves and Surplus - General Reserve (2) Share Application Money Pending Allotment : (3) Non-current Liabilities: (4) Current Liabilities: (a) Trade Payables ---Creditors TOTAL II. ASSETS (1) Non-current Assets: (a) Fixed Assets (i) Tangible Assets: TOTAL Particulars (1) (b) Non-current investments: Land and Building Plant and Machinery (2) Current Assets : (a) Inventories (b) Trade receivables (c) Cash and cash equivalents ---Cash at Bank Note No. (2) (3) 10,00,000 2,50,000 4,50,000 17,00,000 4,00,000 5,00,000 1,00,000 3,00,000 3,50,000 50,000 17,00,000 B Ltd. (₹) (4) 5,00,000 1,50,000 2,00,000 8,50,000 1,00,000 4,00,000 1,00,000 1,00,000 1,50,000 - 8,50,000