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Question no 18 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -18 Chapter no -2 Unimax Class -12 Part - II
Question no -18 Chapter no -2 Unimax Class -12 Part - II

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Question No 18 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

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Sahil Ltd. purchased sundry assets costing ₹ 10,12,500 from Raman Ltd. it was agreed that the purchases consideration was to be paid by issue of 8% debentures. Assume the preice has been paid by the issuance of:
(1) 10,125 debentures of ₹ 100 each.
(2) 7,500 debentures of ₹ 100 each.
(3) 11,250 debentures of ₹ 100 each.

The solution of Question 18 Chapter 2 of +2 Part-2: –

Journal
Books of Sahib Ltd.

Date  Particulars
L.F.DebitCredit
 Sundry assets A/cDr. 10,12,500 
 To Raman Ltd. A/c   10,12,500
 (Being sundry assets purchased)    
Case 1Raman Ltd A/cDr. 10,12,500 
 To Debenture A/c  10,12,500
 (Being 10,125 debentures of ₹ 100 each issued at par)    
Case 2Raman Ltd. A/cDr. 10,12,500 
 To Debentures A/c  7,50,000
 To Securities premium reserve A/c  2,62,500
 (Being 7,500 debentures of ₹ 100 each issued at a premium of ₹ 35 per debentures)    
Case 3Raman Ltd. A/cDr. 10,12,500 
 Discount on issue of debenture A/cDr. 1,12,500 
 To Debenture A/c  11,25,000
 (Being issuance of 11,250 debentures of ₹ 100 each issued at a discount of 10% per debentures)    

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