Question No 35 Chapter 1 - Unimax Class 12 Part 2

Question No 35 Chapter 1- Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 35 Chapter 1 of +2 Part-2: –

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

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

Darshan Ltd. purchase a running business from Diya Ltd. for a sum of ₹ 3,00,000 payable by issued of ₹ 20,000 equity shares of ₹ 10 each at a premium of ₹ 2 per shares and balance in cash. The assets and liabilities taken over were: Plant ₹ 80,000 : Building ₹ 80,000 : Debtors ₹ 60,000, Stock ₹ 60,000, Furniture ₹ 80,000, Creditors ₹ 40,000.
You are required to pass necessary journal entries for the above transaction in the books of Darshan Ltd.

The solution of Question 35 Chapter 1 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
	Plant A/c	Dr.		80,000
	Building A/c	Dr.		80,000
	Debtors A/c	Dr.		60,000
	Stock A/c	Dr.		60,000
	Furniture A/c	Dr.		80,000
	To Diya Ltd.				3,00,000
	To Creditors				40,000
	To Capital reserve				20,000
	(Being the running business of Diya Ltd., Purchased for ₹ 3,00,000)
	Diya Ltd. A/c	Dr.		3,00,000
	To Equity share capital A/c				2,00,000
	To Securities Premium reserve A/c				40,000
	To Cash				60,000
	(Being payment made to DIVYA Ltd. to 60,000 by cash and issued of 20,000 equity shares at ₹ 2 premium)