Advertisement

Question no 14 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -14 Chapter no -2 Unimax Class -12 Part - II
Question no -14 Chapter no -2 Unimax Class -12 Part - II

Advertisement

Question No  14 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

Advertisement

A Ltd. took over assets of ₹ 10,00,000 and creditors of ₹ 1,00,000 from B Ltd. and issued 6% debenture of ₹ 100 each at a premium of 25% as purchases consideration.
Pass necessary journal entries in the books of A Ltd.

The solution of Question 14 Chapter 2 of +2 Part-2: –

Journal
 In the Books of ‘A’ Ltd.

Date  Particulars
L.F.DebitCredit
 Assets A/cDr. 10,00,000 
 To Sundry liabilities A/c   1,00,000
 To B Ltd. A/c   9,00,000
 (Being purchase of assets and liabilities of B Ltd.)    
 B Ltd. A/cDr. 9,00,000 
 To Debenture A/c  7,20,000
 To Securities premium A/c  1,80,000
 (Being issue of 6% debenture and cash ₹ 50,000 on settle the B Ltd. A/c)   

Thanks, Please Like and share with your friends  

Comment if you have any Doubts.

Share Capital: Meaning, Types, and Classes

Advertisement-X

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

Advertisement

error: Content is protected !!