Are you looking for the solution of Question number 22 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?
Question number 22 of the issue of debentures chapter is a practical one.
Solution of Question Number 22 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12
Question – 22
Wellbeing Ltd. took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd at an agreed value of ₹ 9,00,000. Wellbeing Ltd. paid to HDR Ltd. by the issue of 9% Debentures of ₹ 100 each at a premium of 20%.
Pass necessary Journal entries to record the above transactions in the books of Wellbeing Ltd.