A company purchased assets of the book value of ₹ 6,00,000 and took over liabilities of ₹ 1,50,000 from Golden Ltd
A company purchased assets of the book value of ₹ 6,00,000 and took over liabilities of ₹ 1,50,000 from Golden Ltd. It was agreed that the purchase consideration settled at ₹ 4,80,000 by paid by issuing debentures of ₹ 100 each at a premium of 10%. It was further agreed that any fraction of the debenture be paid in cash. Give journal entries in the books of purchasing company.
Anurag Pathak Answered question November 22, 2024