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Question 21 Chapter 9 of +2-Part-1
21. (Issue for Purchase Consideration other than Cash) P. Ltd. acquired following assets
(a) Building Rs. 8,00,000; payment made by issue of debentures of Rs. 100 each
(b) Plant Rs. 9,45,000; payment made by issue of debentures of RS. 100 each at 5% premium.
Pass journal entries.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| a | Building A/c | Dr. | 8,00,000 | ||
| To Vendor’s A/ c | 8,00,000 | ||||
| (Being building acquired ) | |||||
| Vendor’s A/ c | Dr. | 8,00,000 | |||
| To Debenture A/c | 8,00,000 | ||||
| (Being debentures issued ) | |||||
| b | Plant A/c | Dr. | 9,45,000 | ||
| To Vendor’s A/ c | 9,45,000 | ||||
| (Being Plant acquired ) | |||||
| Vendor’s A/ c | Dr. | 9,45,000 | |||
| To Debenture A/c | 9,00,000 | ||||
| To Securities Premium A/c | 45,000 | ||||
| (Being 9,000 debentures Of Rs. 100 each issued At 5% premium ) | |||||
It all about Question 20 Chapter 9 of +2-Part-1, If you have any problem please comment below.
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 21 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter No. 9 - Company Accounts (Issue of Debentures).
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 21 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1" instantly.
