Question 20 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 20 Chapter 9 of +2-A

Table of Contents

The solution of Question 20 Chapter 9 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

20. Romi Ltd. acquired assets of ₹ 20 lakhs and took over creditors of ₹ 2 lakhs from Kapil Enterprises.
Romi Ltd. issued 8% Debentures of ₹ 100 each at a discount of 25% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.

The solution of Question 20 Chapter 9 of +2-A: –


Date	Particulars		L.F.	Debit	Credit
	Assets A/c	Dr		20,00,000
	To Creditors A/c				2,00,000
	To Kapil Enterprises A/c				18,00,000
	(Being assets purchased and creditors took over from Kapil ltd. )
	Kapil Enterprises Ltd A/c	Dr		18,00,000
	To 8%Debenture A/c				14,40,000
	To Securities premium A/c				3,60,000
	(Being Debenture issued at securities premium)