Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Posted by By Kuljeet Singh 3 Min Read July 13, 2024
Question 26 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 26 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 26 Chapter 9 of +2-Part-1

26. (Different Cases of Debentures issues for Purchase Consideration other the Cash)
X Ltd. Took over the assets of Rs. 3,00,000 and Liabilities of Rs. 10,000 of Y Ltd. For agreed purchase consideration of Rs. 2,70,000 to be satisfied by the issue of 15% Debentures of Rs. 100 each at 20% premium. Show the necessary journal entries in t Journal of X Ltd.
(b) Z. Ltd. Allotted 3,000 15% Debentures of Rs. 100 each at a discount of 10% to USA Ltd. For supplying Technical know-how. Give the necessary Journal entries.

The solution of Question 26 Chapter 9 of +2 Part-1: –

Solution of Questions 26 to 29 Issue of Debentures Chapter 9 Accounts Part B class 12 PSEB Day 200
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Journal
Date   Particulars
 L.F. Debit ₹ Credit ₹
i Sundry Assets A/c Dr.   3,00,000  
  To Sundry Liabilities A/ c       10,000
  To Y Ltd.       2,70,000
  To Capital Reserve A/ c (WN)       20,000
  (Being the purchase of Assets & liabilities from Y Ltd. As per agreement dated)      
         
ii Y Ltd. A/c Dr.   2,70,000  
  To 15% Debenture A/c     2,25,000
  To Securities Premium Reserve A/c     45,000
  (Being the issue of 2250 debentures of Rs. 100 each at premium of 20%)      
         

b) Z Ltd. Allotted 3,000 15% debentures of Rs. 100 each at a discount of 10% to USA Ltd. For supplying Technical know –how .give necessary journal entries

Journal
Date   Particulars
 L.F. Debit ₹ Credit ₹
i Technical Know-how A/c Dr.   2,70,000  
  Discount on Debentures A/ c     30,000  
  To 15% Debenture A/c     3,00,000
  (Being technical know-how purchased & payment made by issue of debentures at 10 % discount.)      
         

Working Note :-

Capital Reserve = (Assets –Liabilities ) – Purchase Consideration

(3,00,000-10,000)-2,70,000 = ₹ 20,000

It all about Question 26 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

End of Solution

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Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 9 – Company Accounts (Issue of Debentures) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

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

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

Question 3 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 4 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 5 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 6 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 7 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 8 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

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Question 13 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 14 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 20 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 22 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 23 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 29 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 33 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

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Chapter No. 11 – Financial Statements of a Company

Chapter No. 12 – Financial Statement Analysis

Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 14 – Accounting Ratios

Chapter No. 15 – Cash Flow Statement

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication

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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 1 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 1 Class 12 by Unimax Publication

Advanced Accountancy II Part 1 Class 12 – Solution for free

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