Pioneer Fitness Ltd. took over the running business of Healthy World Ltd. having assets of ₹10,00,000 and liabilities of ₹1,70,000 by:
- a) Issuing 8,000 8% Debentures of ₹100 each at 5% premium redeemable after 6 years @ ₹110; and
- b) Cheque for ₹50,000.
Pass the Journal entries in the books of Pioneer Fitness Ltd.
Marks-3, CBSE:2023-24/Sample/Q-19*
Answer :