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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question no 09 Chapter 2- Class 12 Part 2 Unimax
A Ltd. purchased an established business for ₹ 2,00,000 payable as to ₹ 65,000 in cash and the balance by an issue of 9% Debenture of ₹ 100 each at a discount of 10 per cent. Give journal entries in the books of A Ltd.
[ 1,500 debentures of ₹ 100 each]
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Sundry assets A/c | Dr. | 2,00,000 | |||
| To Vendor’s A/c | 2,00,000 | ||||
| (Being running business purchased) | |||||
| Vendor’s A/c | Dr. | 2,00,000 | |||
| Discount on issue of debenture A/c | Dr. | 15,000 | |||
| To Debenture A/c | 1,50,000 | ||||
| To Cash A/c | 65,000 | ||||
| (Being 1500 debentures @ ₹ 100 each and 65000 in cash paid to vendor) | |||||
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 no 09 Chapter 2- Class 12 Part 2 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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