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Question no 16 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -16 Chapter no -2 Unimax Class -12 Part - II
Question no -16 Chapter no -2 Unimax Class -12 Part - II

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Question No  16 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

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X Textiles acquired assets of ₹ 1,50,000 and liabilities of 60,000 of Slow Ltd. the purchase consideration paid by issued of 12% debenture of ₹ 100 each of the face value of ₹ 1,00,000 at par. Pass necessary journal entries.

The solution of Question 16 Chapter 2 of +2 Part-2: –

Journal

Date  Particulars
L.F.DebitCredit
 Sundry Assets A/cDr. 1,50,000 
 Goodwill A/cDr. 10,000 
 To Sundry liabilities A/c   60,000
 To Show Ltd. A/c   1,00,000
 (Being purchase of assets and liabilities of Show Ltd.)    
 Show Ltd. A/cDr. 1,00,000 
 To Debenture A/c  1,00,000
 (Being issue of debenture ₹ 10,000 on settle the show Ltd. A/c)   

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