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

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

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. Debit Credit
  Assets A/c Dr.   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/c Dr.   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)      

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