Y limited has taken over the business of Krishnan, the asset and liabilities having been valued at

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Y limited has taken over the business of Krishnan, the asset and liabilities having been valued at ₹80,000 and ₹30,000 respectively. Y Co., agreed to pay ₹72,000 as the purchase price, to be settled by the issue of 12% debentures of ₹10 each at a premium of 20%. Give journal entries.

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Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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