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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question no 16 Chapter 2- Class 12 Part 2 Unimax
X Textiles acquired assets of ₹ 1,50,000 and liabilities of 60,000 of Slow Ltd. the purchase consideration paid by issued of 12% debenture of ₹ 100 each of the face value of ₹ 1,00,000 at par. Pass necessary journal entries.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Sundry Assets A/c | Dr. | 1,50,000 | |||
| Goodwill A/c | Dr. | 10,000 | |||
| To Sundry liabilities A/c | 60,000 | ||||
| To Show Ltd. A/c | 1,00,000 | ||||
| (Being purchase of assets and liabilities of Show Ltd.) | |||||
| Show Ltd. A/c | Dr. | 1,00,000 | |||
| To Debenture A/c | 1,00,000 | ||||
| (Being issue of debenture ₹ 1,00,000 to settle Show 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 16 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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