23 :- Rama Ltd. took over following assets and liabilities of Krishna Ltd. on 1st April, 2019:
Land and Building ₹ 50,00,000
Furniture ₹ 10,00,000
Stock ₹ 5,00,000
Creditors ₹ 7,00,000
The purchase consideration of ₹ 60,00,000 was paid by issuing 12% Debentures of ₹ 100 each at a premium of 20%.
Pass the necessary Journal entries for the above in the books of Rama Ltd.
Solution :-
