Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question no 14 Chapter 2- Class 12 Part 2 Unimax
A Ltd. took over assets of ₹ 10,00,000 and creditors of ₹ 1,00,000 from B Ltd. and issued 6% debenture of ₹ 100 each at a premium of 25% as purchases consideration.
Pass necessary journal entries in the books of A Ltd.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Assets A/c | Dr. | 10,00,000 | |||
| To Sundry liabilities A/c | 1,00,000 | ||||
| To B Ltd. A/c | 9,00,000 | ||||
| (Being purchase of assets and liabilities of B Ltd.) | |||||
| B Ltd. A/c | Dr. | 9,00,000 | |||
| To Debenture A/c | 7,20,000 | ||||
| To Securities premium A/c | 1,80,000 | ||||
| (Being issue of 6% debentures to settle B Ltd. A/c) | |||||
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 14 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.
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 no 14 Chapter 2- Class 12 Part 2 Unimax" instantly.
