Hi-tech Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Low-tech Ltd
Hi-tech Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Low-tech Ltd. for an agreed purchase consideration of ₹ 6,00,000 payable 10% in cash and the balance by the issue of 12% Debentures of ₹ 100 each. Give necessary Journal entries in the books of Hi-tech Ltd., assuming that:
Case (a): The debentures are issued at par.
Case (b): The debentures are issued at 20% premium
Case (c): The debentures are issued at 10% discount.
Anurag Pathak Changed status to publish December 12, 2023
