Question 21 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part

Question 21 Chapter 9 of +2-Part-1

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The solution of Question 21 Chapter 9 of +2 Part-1: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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.

The solution of Question 21 Chapter 9 of +2 Part-1: –

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 )

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Issue of Debentures from the point of view of Redemption

You can also Check out the solved question of other Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company
Chapter No. 2 – Financial Statement Analysis
Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 4 – Ratio Analysis
Chapter No. 5 – Cash Flow Statement

Question 21 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

The solution of Question 21 Chapter 9 of +2 Part-1: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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