show the opening entries of singh ltd and closing entries of guber in respect of the 618245

The balance sheet of Guber was as follows:

Balance Sheet on 31 March 2011

On 15 July 2011, Singh Ltd. was incorporated, taking over all the assets (except debtors) and the liability for loans; interest @ 12% p.a. on the purchase price to be allowed to the vendors from 1 April 2011 to the date of completion. The credit balance of Guber’s capital to be satisfied by the issue of equity shares in Singh Ltd.

The loan holders accept 14% preference shares in discharge of their debts. The company, as agent for vendor, agrees to collect the debts, which realize ultimately Rs.1,260,000 out of which they pay, as agent for the vendor, the creditors at the net figure shown in the balance sheet. Of the balance, they paid an account to Guber the sum of Rs.2,00,000; the amount remaining undrawn by Guber, including interest, to be discharged in the form of Rs.5,00,000 debentures at 96 and cash. The new company is entitled to all intervening profit (i.e., between 1 April 2011 and 15 July 2011). Show the opening entries of Singh Ltd. and closing entries of Guber in respect of the above, assuming that the date of completing is 31 August 2011. Ignore Income Tax.