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A company purchased assets of the …

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A company purchased assets of the book value of 1200000 and liabilities of 220000 of another company for a purchase consideration of 940000 the purchase consideration was discharged by the issue of debentures of 500 each at a discount of 6% pass journal entries in the book of purchasing company

Posted by Farhana Sultana 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Himanshu Gupta 2 years, 6 months ago

Sundry assets ac ......dr. 1200000 To sundry liabilities ac 220000 To vendors ac 940000 To capital reserve 40000 Vendors ac dr. 940000 Discount on issue of debenture ac 60000 To debenture ac 1000000

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