2 Illustration 4: (Amalgamation in the nature of purchase-net payment method) W. Ltd agreed to acquire the business of G. Ltd. The balance sheet of G. Ltd on that date was as follows: Liabilities Rs. Assets Rs. 60,000 equity shares of Rs. 10 each General Reserve Profit & Loss Alc 12% Debentures Creditors 6,00,000 1,70,000 1,10,000 1,00,000 20,000 Goodwill Land & Building Plant & Machinery Stock Bank Debtors 1.00,000 2,30,000 4,10,000 1,68,000 56,000 36,000 10,00,000 10,00,000 The consideration payable by W. Ltd. was as follows: (i) A cash payment of Rs. 2.50 for each share of Rs. 10 in G Ltd. (ii) The issue of 90,000 equity shares of Rs. 10 each fully paid in W Ltd. having an agreed value of Rs. 15 per share. (iii) W Ltd. agreed to discharge the 12% Debentures of G Ltd. at a premium of 20% by allotment of its 14% Debentures as 96%. While computing the consideration, the directors of W Ltd. valued the following assets at values noted against them: Land and building Rs. 7,50,000; Plant and Machinery Rs. 4,50,000 Stock Rs. 1,42,000; Debtors subject to an allowance of 5% for doubtful debts. The Cost of Liquidation came to Rs. 5,000/- which was borne by W Ltd. Give journal entries in the books of G Ltd. and W Ltd