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Promising Company Ltd. took over assets of ₹ 2,50,000 and liabilities of ₹ 30,000 of Goneby Company for the purchase consideration of ₹ 3,30,000

859 viewsDecember 12, 2023[ISC] Issue of Debentures

Anurag Pathak28.35K December 12, 2023 0 Comments

Promising Company Ltd. took over assets of ₹ 2,50,000 and liabilities of ₹ 30,000 of Goneby Company for the purchase consideration of ₹ 3,30,000. Promising Company Ltd. paid the purchase consideration by issuing debentures of ₹ 100 each at 10% premium.

Give Journal entries in the books of Promising Company Ltd.

Anurag Pathak Changed status to publish December 12, 2023

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Anurag Pathak28.35K Posted December 12, 2023 0 Comments

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Anurag Pathak Changed status to publish December 12, 2023

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Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

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Promising Company Ltd. took over assets of ₹ 2,50,000 and liabilities of ₹ 30,000 of Goneby Company for the purchase consideration of ₹ 3,30,000

1 Answer

Anurag Pathak

1 Answer

Anurag Pathak

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