(b) Ganguly Ltd. was formed with an authorized capital of Rs 12,00,000 divided into 1,20,000 equity shares of Rs 10 each, to acquire the business of A and B whose balance sheet on the date of acquisition was as follows: Liabilities Ra Assets 6,00,000 Freehold premises Rs. Capital 7,00,000 General reserve 4,00,000 Stock 2,00,000 Creditors 2,00,000 Sundry debtors 1,60,000 Less Provision for bad debts Cash at bank 10,000 1,50,000 1,50,000 12,00,000 12,00,000 The purchase consideration was agreed upon at Rs.14,00,000 to be paid in Rs. 12,00,000 fully paid equity shares at Rs.11 and balance in cash. Give Journal entries. D