x purchased the assets of y for Rs 600000 and creditor of Rs 30000,at an agreed purchases consideration of Rs 680000. Payable Rs 80000by bank draft and the balance in fully paid shares of Rs 50 each .Give the necessary journal entries if such shares are to be issued at a premium of Rs 10 per share

Assets A/c Dr.  600000
Goodwill A/c Dr. 110000
        To creditors A/c  30000
        To Y A/c            680000
(being assets & liabilities purchased from y)
Y a/c dr.     680000
   To Bank A/c  80000
    To  share capital a/c 500000
    To securities premium reserve A/c 100000
(being paid amount to y through bank draft & issue of 10000 shares of Rs 50 each at a premium of Rs 10 each)