Entries for purchase of assets and issue of shares

Here are the solutions for the questions.

13. (I) Entries for purchase of assets and issue of shares

Step 1: Calculate the total value of assets purchased.

$$\text{Total Assets} = \text{Land and Building} + \text{Office Equipment}$$ $$\text{Total Assets} = \text{Rs. } 6,50,000 + \text{Rs. } 3,40,000 = \text{Rs. } 9,90,000$$

Step 2: Calculate the total consideration for shares issued.

$$\text{Number of Shares} = 9,000$$ $$$$