Thin Ltd. was registered with an authorised capital of 10,00,000 equity shares of ₹10 each and it acquired the running business of Ganesh at an agreed price of ₹25,00,000. The balance sheet of Ganesh on the date of acqui

Thin Ltd. was registered with an authorised capital of 10,00,000 equity shares of ₹10 each and it acquired the running business of Ganesh at an agreed price of ₹25,00,000. The balance sheet of Ganesh on the date of acquisition was as under: I EQUITY AND LIABILITIES (1) Shareholders' funds (a) Share capital (b) Reserves and surplus General reserve (2) Non-current and current liabilities (a) Current liabilities Trade payables Bills payable TOTAL ₹ 20,00,000 2,00,000 5,00,000 3,00,000 30,00,000 II ASSETS (1) Non-current assets (a) Fixed Assets Freehold premises Plant and machinery (2) Current assets (a) Inventories (b) Trade receivables less : provisions (c) Bank TOTAL ₹ 10,00,000 8,00,000 2,00,000 2,75,000 25,000 2,50,000 7,50,000 30,00,000 The consideration was to be discharged by the issue of 2,00,000 equity shares of ₹10 each as fully paid-up and the balance in cash. Journalise the transactions in the books of Thin Ltd. Also prepare the opening balance sheet of the company.