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Disha Ltd. took over assets of ₹ 8,00,000 and liabilities of ₹ 3,00,000 from Kirti Ltd. for a purchase consideration of ₹ 6,00,000. The payment was made by issue of 9% Debentures of ₹ 100 each at 20% premium.

Pass the necessary journal entries for the above transactions in the books of Disha Ltd.

[Ans. Goodwill ₹ 1,00,000; Debentures issued : 5,000 Debentures of ₹ 100 each.]

Anurag Pathak Answered question November 16, 2024
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