Question no 9 Chapter 2 - UNIMAX Class 12 Part 2

Question No 9 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Table of Contents

The solution of Question 9 Chapter 2 of +2 Part-2: –

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

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

A Ltd. purchased an established business for ₹ 2,00,000 payable as to ₹ 65,000 in cash and the balance by an issue of 9% Debenture of ₹ 100 each at a discount of 10 per cent. Give journal entries in the books of A Ltd.
[ 1,500 debentures of ₹ 100 each]

The solution of Question 9 Chapter 2 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
	Sundry assets A/c	Dr.		2,00,000
	To Vendor’s A/c				2,00,000
	(Being running business purchased)
	Vendor’s A/c	Dr.		2,00,000
	Discount on issue of debenture A/c	Dr.		15,000
	To Debenture A/c				1,50,000
	To Cash A/c				65,000
	(Being 1500 debentures @ ₹ 100 each and 65000 in cash paid to vendor)