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Romi Ltd. Acquired assets of ₹ 20 l...

Romi Ltd. Acquired assets of ₹ 20 lakhs and took over creditors of ₹ 12 lakhs from Kapil Enterprises. Romi Ltd. Issued 8% Debentures of ₹ 100 each at premium of 25% as purchase consideration .
Record necessary Journal entries in the books of Romi Lted.

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The correct Answer is:
No of Debentures Issued - 14,400.
Difference between the value of assets and liabilities taken over is treated as purchase consideration.
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TS GREWAL-COMPANY ACCOOUNT -ISSUE OF DEBENTURES-Exercise
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