X Ltd. purchased a running business from Y Ltd. For a sum of Rs 30,00,000 payable `40%` by cheque and the balance by the issue of fully paid equity shares of Rs 100 each at a premium of `20%`. The assets and liabilities consisted of the following :
`{:(,"Rs",,,"Rs"),("Building","12,00,000"," ","Sundry Debtors","4,30,000"),("Plant and Machinery","8,00,000"," ","Cash","90,000"),("Stock","5,00,000"," ","Sundry Creditors","2,00,000"):}`
Pass the necessary Journal entries in the books of X Ltd.

Explanation

`"Number of Equity Shares to be issued :"=("Rs 18,00,000")/(120)="15,000 Shares."`