Question

a company purchased assets of rs 235000 and tool over liabilities of rs 30000 it agreed to pay the purchase price of rs 220000 by issuing debentures of rs 100 each at premium of 10% you are required to give journal entries for recording the transaction in the book of the purchasing company​

Answer 1

Answer:

purchased assets of the book value of Rs 4, 00,000 and took over the liability of Rs 50,000 from Mohan Bros. It was agreed that the purchase ...