{"id":121415,"date":"2022-05-17T16:07:05","date_gmt":"2022-05-17T10:37:05","guid":{"rendered":"https:\/\/www.mapsofindia.com\/my-india\/?p=121415"},"modified":"2022-05-17T16:07:05","modified_gmt":"2022-05-17T10:37:05","slug":"vedesh-ltd-purchased-a-running-business-of-vibhu-enterprises-for-a-sum-of-%e2%82%b9-1200000-vedesh-ltd-paid-%e2%82%b9-60000-by-drawing-a-promissory-note-in-favour-of-vibhu-enterprises","status":"publish","type":"post","link":"https:\/\/www.mapsofindia.com\/my-india\/education\/vedesh-ltd-purchased-a-running-business-of-vibhu-enterprises-for-a-sum-of-%e2%82%b9-1200000-vedesh-ltd-paid-%e2%82%b9-60000-by-drawing-a-promissory-note-in-favour-of-vibhu-enterprises","title":{"rendered":"Vedesh Ltd. purchased a running business of Vibhu Enterprises for a sum of \u20b9 12,00,000. Vedesh Ltd. paid \u20b9 60,000 by drawing a promissory note in favour of Vibhu Enterprises., \u20b91,90,000 through bank draft and balance by issue of 8% debentures of \u20b9 100 each at a discount of 5%. The assets and liabilities of Vibhu Enterprises consisted of Fixed Assets valued at \u20b9 17,30,000 and Trade Payables at \u20b9 3,20,000. You are required to pass necessary journal entries in the books of Vedesh Ltd."},"content":{"rendered":"<h2>Vedesh Ltd. purchased a running business of Vibhu Enterprises for a<br \/>\nsum of \u20b9 12,00,000. Vedesh Ltd. paid \u20b9 60,000 by drawing a<br \/>\npromissory note in favour of Vibhu Enterprises., \u20b91,90,000 through<br \/>\nbank draft and balance by issue of 8% debentures of \u20b9 100 each at a<br \/>\ndiscount of 5%. The assets and liabilities of Vibhu Enterprises<br \/>\nconsisted of Fixed Assets valued at \u20b9 17,30,000 and Trade Payables<br \/>\nat \u20b9 3,20,000.<br \/>\nYou are required to pass necessary journal entries in the books of<br \/>\nVedesh Ltd.<\/h2>\n<h3>Answer.<br \/>\nIn the Books of Vedesh Ltd.<\/h3>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-121375 size-full\" src=\"https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35.png\" alt=\"\" width=\"685\" height=\"334\" srcset=\"https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35.png 685w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35-150x73.png 150w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35-300x146.png 300w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35-669x326.png 669w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/7-35-533x261.png 533w\" sizes=\"auto, (max-width: 685px) 100vw, 685px\" \/><\/h3>\n<h3>Working Note:<br \/>\nNumber of Debentures issued = 9,50,000 \/ 95 = 10,000<\/h3>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vedesh Ltd. purchased a running business of Vibhu Enterprises for a sum of \u20b9 12,00,000. Vedesh Ltd. paid \u20b9 60,000 by drawing a promissory note in favour of Vibhu Enterprises., \u20b91,90,000 through bank draft and balance by issue of 8% debentures of \u20b9 100 each at a discount of 5%. The assets and liabilities of [&hellip;]<\/p>\n","protected":false},"author":21830,"featured_media":121365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-121415","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-education"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/users\/21830"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/comments?post=121415"}],"version-history":[{"count":1,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121415\/revisions"}],"predecessor-version":[{"id":121416,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121415\/revisions\/121416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media\/121365"}],"wp:attachment":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media?parent=121415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/categories?post=121415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/tags?post=121415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}