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

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

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Question 21 Chapter 9 of +2-Part-1

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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 ₹
aBuilding A/cDr. 8,00,000 
 To Vendor’s A/ c   8,00,000
 (Being building acquired )   
     
 Vendor’s A/ cDr. 8,00,000 
 To Debenture A/c  8,00,000
 (Being debentures issued )   
     
 bPlant A/cDr. 9,45,000 
 To Vendor’s A/ c   9,45,000
 (Being Plant acquired )    
      
 Vendor’s A/ cDr. 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 )    
      

It all about Question 20 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

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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

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