The assets and liabilities consisted of the following:
| Plant and Machinery | Rs. 4,00,000 | Stock | Rs. 4,00,000 |
| Building | Rs. 4,00,000 | Cash | Rs. 3,00,000 |
| Sundry Debtors | Rs. 3,00,000 | Sundry Creditors | Rs. 2,00,000 |
You are required to pass necessary Journal entries in the company’s books.
Solution
