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प्रश्न
Bright Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Star Ltd. for an agreed purchase consideration of ₹ 6,00,000 payable 10% in cash and the balance by the issue of 12% Debentures of ₹ 100 each. Give necessary Journal entries in the books of Bright Ltd., assuming that:
Case (a): The debentures are issued at par.
Case (b): The debentures are issued at 20% premium.
Case (c): The debentures are issued at 10% discount.
उत्तर
Books of Bright Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|
|
|
Assets A/c |
Dr. |
|
6,60,000 |
|
|
|
Goodwill A/c(Balancing Figure) |
Dr. |
|
20,000 |
|
|
|
To Liabilities A/c |
|
|
|
80,000 |
|
|
To Star Ltd. |
|
|
|
6,00,000 |
|
|
(Purchase of business of Star Ltd.) |
|
|
|
|
|
|
|
|
|
60,000 |
|
|
|
Star Ltd. |
Dr. |
|
|
60,000 |
|
|
To Cash A/c |
|
|
|
|
|
|
(Payment made in cash) |
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Star Ltd. |
Dr. |
|
5,40,000 |
|
|
|
To 12% Debentures A/c |
|
|
|
5,40,000 |
|
|
( Purchase consideration discharged by issue of 12% Debentures) |
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
Star Ltd. |
Dr. |
|
5,40,000 |
|
|
|
To 12% Debentures A/c |
|
|
|
4,50,000 |
|
|
To Security Premium Reserve A/c |
|
|
|
90,000 |
|
|
( Purchase consideration discharged by issue of 12% Debentures) |
|
|
|
|
|
|
|
|
|
|
|
|
(c) |
Star Ltd. |
Dr. |
|
5,40,000 |
|
|
|
Discount on Issue of Debentures A/c |
Dr. |
|
60,000 |
|
|
|
To 12% Debentures A/c |
|
|
|
6,00,000 |
|
|
( Purchase consideration discharged by issue of 12% Debentures) |
|
|
|
|
Working Note :
1) Number of Debentures to issued
= `540000/120 = 4500 "Debentures"`
2) Number of Debentures to issued
= `540000/90 = 6000 "debentures"`
APPEARS IN
संबंधित प्रश्न
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