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प्रश्न
Prime Ltd. took over the assets of ₹ 6,00,000 and liabilities of ₹ 1,00,000 of Rabi Ltd. for a purchase consideration of ₹ 3,60,000. Prime Ltd. issued 10% debentures of ₹ 100 each at a discount of 10% in full satisfaction of purchase consideration.
Pass the necessary journal entries in the books of Prime Ltd.
रोजकीर्द नोंद
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उत्तर
| In the Books of Prime Ltd. Journal |
||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| Sundry Assets A/c ...Dr. | 6,00,000 | − | ||
| To Liabilities A/c | − | 1,00,000 | ||
| To Rabi Ltd. | − | 3,60,000 | ||
| To Capital Reserve A/с | − | 1,40,000 | ||
| (Being the purchase of assets and liabilities of Rabi Ltd.) | ||||
| Rabi Ltd. ...Dr. | 3,60,000 | − | ||
| Discount on Issue of Debentures A/c ...Dr. | 40,000 | − | ||
| To 10% Debentures A/c | − | 4,00,000 | ||
| (Being purchase consideration discharged by issue of 4,000, 10% debentures of ₹ 100 each at 10% discount.) | ||||
Working Note:
Number of Debentures issued = `(3,60,000)/(100 - 10)`
= 4,000
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