X Ltd. took over assets of ₹ 5,00,000 and liabilities of ₹ 1,00,000 of another company at an agreed price of ₹ 3,80,000
X Ltd. took over assets of ₹ 5,00,000 and liabilities of ₹ 1,00,000 of another company at an agreed price of ₹ 3,80,000. The purchase consideration was discharged by issuing debentures of ₹ 100 each at a discount of 10%. It was agreed that any fraction of the debenture by paid in cash. Give journal entries in the books of X Ltd. Ignore writing off discount on issue of debentures.
Anurag Pathak Answered question November 22, 2024