A company purchased assets of the book value of Rs 99,000 from another

1.	A company purchased assets of the book value of Rs 99,000 from another Co. It was agreed that the purchase consideration be paid by issuing 11% Debentures of Rs 100 each. Assume that the debentures have been issued (i) at par, (ii) at a discount of 10%, and (iii) at a premium of 10%. Give necessary journal entries in the books of purchasing company.
Answer» A company purchased assets of the book value of Rs 99,000 from another Co. It was agreed that the purchase consideration be paid by issuing $11 %$ Debentures of Rs 100 each. Assume that the debentures have been issued (i) at par, (ii) at a discount of $10 %$ , and (iii) at a premium of $10 %$ . Give necessary journal entries in the books of purchasing company.

A company purchased assets of the book value of Rs 99,000 from another Co. It was agreed that the purchase consideration be paid by issuing 11% Debentures of Rs 100 each. Assume that the debentures have been issued (i) at par, (ii) at a discount of 10%, and (iii) at a premium of 10%. Give necessary journal entries in the books of purchasing company.

Answer»

A company purchased assets of the book value of Rs 99,000 from another Co. It was agreed that the purchase consideration be paid by issuing $11 %$ Debentures of Rs 100 each. Assume that the debentures have been issued (i) at par, (ii) at a discount of $10 %$ , and (iii) at a premium of $10 %$ .

Give necessary journal entries in the books of purchasing company.

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