Raju, Jyoti and Bhola carry on business in partnership under the style of M/s R & Co sharing profits and losses in the ratio of 5:3:2. They have floated R Pvt. Ltd for the purpose of takeover of their business. The following is the Balance Sheet of the firm as on 31st December, 2018: Liabilities Assets Capital Account: Cash 6000 Raju 101000 Bank 14000 Jyoti 151000 Debtors 60000 (-) Bhola 133000 Provision 2000 58000 Stock 42000 Fixed Assets at WDV 300000 Creditors 50000 Expenditure related to R. Pvt. Ltd: Formation Expenses 12000 Bank Account (note-1) 3000 15000 435000 435000 Note-1: (In the name of R. Pvt. Ltd.) Deposit of par value of 300 equity shares of 10 each, subscribed equally by the partners as subscribers to the memorandum and article of association. On that day R Pvt. Ltd took over the business for a total consideration of 35,00,000 (excluding 300 shares allotted as subscribers of memorandum). The purchase consideration was to be discharge by the allotment of equity shares of 10 each at par in the profit- sharing ratio and 15% debenture of 100 each at par for surplus capital. The directors of R Pvt Ltd revalued fixed assets of R& Co. as 4,00,000. You are asked to: (a) State the number of equity shares and debenture allotted by R. Pvt Ltd to Raju, Jyoti & Bhola. (b) Show the journal entries in connection with the above transaction in the books of R. Pvt Ltd. Show your workings