Oasis Ltd. purchased building worth ₹ $\displaystyle 12,00,000$, machinery worth $\displaystyle 1,90,000$ and furniture worth ₹ $\displaystyle 3,00,000$ from Nitara Ltd. and took over its liabilities of ₹ $\displaystyle 90,000$ for a purchase consideration of ₹ $\displaystyle 15,30$,000. Oasis Ltd. paid the purchase consideration by issuing $\displaystyle 11$% Debentures of $\displaystyle 100$ each at a discount of $\displaystyle 10$%. Pass necessary journal entries in the books of Oasis Ltd. for the above transactions.

OR

On 1st April, $\displaystyle 2025$, Bharat Heavy Industries Ltd. purchased the running business of Mac Ltd. consisting of sundry assets of the book value of ₹ $\displaystyle 20,00,000$ and sundry liabilities of ₹ $\displaystyle 8,00,000$ for a purchase consideration of ₹ $\displaystyle 15,00$,000. The purchase consideration was paid by issuing $\displaystyle 8,000$, $\displaystyle 9$% Debentures of $\displaystyle 100$ each at a T premium of $\displaystyle 25$% and the balance was paid by a bank draft in favour of Mac Ltd. Pass necessary journal entries for the above transactions in the books of Bharat Heavy Industries Ltd.

Books of Oasis Ltd. Journal Date Particulars L.F. Dr. Amount Cr. Amount (`) (`) Building A/c Dr. $\displaystyle 12,00,000$ Machinery A/c Dr. $\displaystyle 1,90,000$ Furniture A/c Dr. $\displaystyle 3,00,000$ To Liabilities A/c $\displaystyle 90,000$ To Nitara Ltd $\displaystyle 15,30,000$ To Capital Reserve A/c $\displaystyle 70,000$ (Assets & liabilities of Nitara Ltd. taken over) Nitara Ltd. Dr. $\displaystyle 15,30,000$ Discount on Issue of Debenture A/c Dr. $\displaystyle 1,70,000$ To $\displaystyle 11$% Debentures A/c $\displaystyle 17,00,000$ ($\displaystyle 17,000$ Debentures of `$\displaystyle 100$ each issued at a discount of $\displaystyle 10$%) Q. On 1st April, $\displaystyle 2025$, Bharat Heavy Industries Ltd. purchased…. Ans. Books of Bharat Heavy Industries Ltd. Journal Date Particulars L.F. Dr. Amount Cr. Amount (`) (`) $\displaystyle 2025$ April $\displaystyle 1$ Sundry Assets A/c Dr. $\displaystyle 20,00,000$ Goodwill A/c Dr. $\displaystyle 3,00,000$ To Sundry Liabilities A/c $\displaystyle 8,00,000$ To Mac Ltd. $\displaystyle 15,00,000$ (Acquiring running business of Mac Ltd.) $\displaystyle 15,00,000$ Mac Ltd. Dr. April $\displaystyle 1$ $\displaystyle 8,00,000$ To $\displaystyle 9$% Debentures A/c $\displaystyle 2,00,000$ To Securities Premium A/c To Bank A/c $\displaystyle 5,00,000$ (Purchase consideration paid by issue of $\displaystyle 8,000$ $\displaystyle 9$% Debentures at a premium of $\displaystyle 25$% and the balance through a cheque) Alternative April $\displaystyle 1$ Mac Ltd. Dr. $\displaystyle 10,00,000$ To $\displaystyle 9$% Debentures A/c $\displaystyle 8,00,000$ To Securities Premium A/c $\displaystyle 2,00,000$ (Purchase consideration paid by issue of $\displaystyle 8,000$ $\displaystyle 9$% Debentures at a premium of $\displaystyle 25$%) April $\displaystyle 1$ Mac Ltd. Dr. $\displaystyle 5,00,000$ To Bank A/c $\displaystyle 5,00,000$ (Purchase consideration paid through a cheque) .