M.Ltd. Took Over Assets Of Rs 9,00,00,000 and Liabilities Of Rs 70,00,000 of S.Ltd- Accountancy

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M.Ltd. took over assets of Rs 9,00,00,000 and liabilities of Rs 70,00,000 of S.Ltd. and issued 8%Debenture of Rs 100 each. Record necessary entries in the books of M. Ltd.




Books of M.Ltd.

Journal

DateParticularsL.F.
Amount
(Dr.)
Amount
(Cr.)
Sundry Assets A/cDr.9,00,00,000
  To Sundry Liabilities A/c70,00,000
  To S.Ltd. A/c8,30,00,000
( Being Assets and liabilities of S. Ltd. taken over )
S.Ltd. A/cDr.8,30,00,000
  To 8% Debenture A/c8,30,00,000
( Being 8,30,000 8% debenture @ 100 each issued to s Ltd. in consider of asset and liabilities )

Chapter-2 Issue and Redemption of Debentures-II



Location: India

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