[Solved] Romi Ltd. acquired assets of Rs 20 lakh a

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Romi Ltd. acquired assets of Rs 20 lakh and took over creditors of Rs 2 lakh from Kapil Enterprises. Romi Ltd. issued 8% debentures of

Romi Ltd. acquired assets of Rs 20 lakh and took over creditors of Rs 2 lakh from Kapil Enterprises. Romi Ltd. issued 8% debentures of Rs 100 each at par as purchase consideration.

Record necessary journal entries in the books of Romi Ltd.

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