[CBSE] Q. 23 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 23 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Green Ltd. purchased the assets of Strong Ltd. for ₹ 40,00,000 and took over liabilities of ₹ 7,00,000 for ₹ 32,40,000. Payment was made by issuing 10% Debentures of ₹ 100 each at a discount of 10%. Pass the necessary Journal entries in the books of Green Ltd.

Solution:-