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 :-

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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

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

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

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Question 12 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

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

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

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

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

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

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

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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

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

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

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Chapter No. 8 – Company Accounts (Share Capital)

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

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

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

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Chapter No. 14 – Accounting Ratios

Chapter No. 15 – Cash Flow Statement

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

Check Out the Solution of all questions of this chapter:

Download a PDF of Chapter No. 9 – Company Accounts (Issue of Debentures):

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

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

Check out Part 1 of both books.

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