Kuber Ltd. purchased assets worth ₹ $\displaystyle 10,00,000$ and took over liabilities of ₹ $\displaystyle 1,00,000$ of Amrit Ltd. for a purchase consideration of ₹ $\displaystyle 8,00$,000. Kuber Ltd. paid ₹ $\displaystyle 2,650,000$ through a cheque and the balance was settled by issuing $\displaystyle 12$% debentures of ₹ $\displaystyle 100$ each at a discount of $\displaystyle 10$%. Pass necessary journal entries in the books of Kuber Ltd. for the above transactions.

Books of Kuber Ltd. JOURNAL Date Particulars L.F. Dr. Cr. Amount( `) Amount( `) Assets A/c Dr. $\displaystyle 10,00,000$ To Liabilities A/c $\displaystyle 1,00,000$ To Amrit Ltd. $\displaystyle 8,00,000$ To Capital Reserve A/c $\displaystyle 1,00,000$ (business of Amrit Ltd. taken over at `$\displaystyle 8,00,000$) Amrit Ltd. Dr. $\displaystyle 2,60,000$ To Bank A/c $\displaystyle 2,60,000$ (paid Amrit Ltd `$\displaystyle 2,60,000$ by cheque) Amrit Ltd. Dr. $\displaystyle 5,40,000$ Discount on Issue of Debentures A/c Dr. $\displaystyle 60,000$ To $\displaystyle 12$% Debentures A/c $\displaystyle 6,00,000$ ($\displaystyle 6,000$, $\displaystyle 12$% debentures of `$\displaystyle 100$ each issued at a discount of $\displaystyle 10$%)