question_answer

Complete the following journal entries. JOURNAL

Date	Particulars		LF	Amt (Dr)	Amt (Cr)
	Sundry Assets A/c	Dr		20,00,000
	...............	Dr		....
	To Sundry Liabilities A/c				3,00,000
	To Vendor's A/c				17,60,000
	(Being the purchase consideration for acquiring the business)
	.............	Dr		....
	To 10% Debentures A/c (10,000 x 100)				10,00,000
	To.........				....
	To.........				....
	To.........				....
	(Being the purchase consideration settled by issue of 10,000 10% debentures of Rs. 100 each at a premium of 10%, 6,000 Equity shares of Rs. 100 each and 60,000 in cash)

 

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