Wellbeing Ltd. Took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000
Channel: Doubtnut
Date: 2020-04-05

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. Bu issue of 9% Debentures of 100 each at a premium of 20% . Pass necessary Journal entries to record the above transaction in the books of Wellbeing Ltd.