The Total solution for NCERT class 6-12
Books of M. Ltd.
Journal
Date
Particulars
L.F.
Debit
Amount
₹
Credit
Sundry Assets
Dr.
9,00,00,000
To Sundry Liabilities A/c
70,00,000
To S.Ltd.
8,30,00,000
(Assets and liabilities of S. Ltd. taken over)
S. Ltd.
To 8% Debenture A/c
(8,30,000 8% debentures @ 100 each issued to S Ltd. in
consideration of assets and liabilities)