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VDO+ Tag:Question 26 Chapter 9 of Class 12 Part – 2 – 2024
26. (Different Cases of Debentures issues for Purchase Consideration other the Cash)
X Ltd. Took over the assets of Rs. 3,00,000 and Liabilities of Rs. 10,000 of Y Ltd. For agreed purchase consideration of Rs. 2,70,000 to be satisfied by the issue of 15% Debentures of Rs. 100 each at 20% premium. Show the necessary journal entries in t Journal of X Ltd.
(b) Z. Ltd. Allotted 3,000 15% Debentures of Rs. 100 each at a discount of 10% to USA Ltd. For supplying Technical know-how. Give the necessary Journal entries.
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Video Tag:The solution of Question 26 Chapter 9 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 26 Chapter 9 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
1. Check out the Solution of this question in Video Format:-
The video consists solution of question numbers from 26 to 29 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 26 from the following video by using time stamps of the video.
2. Check out the Solution of Question 26 Chapter 9 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| i | Sundry Assets A/c | Dr. | 3,00,000 | ||
| To Sundry Liabilities A/ c | 10,000 | ||||
| To Y Ltd. | 2,70,000 | ||||
| To Capital Reserve A/ c (WN) | 20,000 | ||||
| (Being the purchase of Assets & liabilities from Y Ltd. As per agreement dated) | |||||
| ii | Y Ltd. A/c | Dr. | 2,70,000 | ||
| To 15% Debenture A/c | 2,25,000 | ||||
| To Securities Premium Reserve A/c | 45,000 | ||||
| (Being the issue of 2250 debentures of Rs. 100 each at premium of 20%) | |||||
b) Z Ltd. Allotted 3,000 15% debentures of Rs. 100 each at a discount of 10% to USA Ltd. For supplying Technical know –how .give necessary journal entries
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| i | Technical Know-how A/c | Dr. | 2,70,000 | ||
| Discount on Debentures A/ c | 30,000 | ||||
| To 15% Debenture A/c | 3,00,000 | ||||
| (Being technical know-how purchased & payment made by issue of debentures at 10 % discount.) | |||||
Working Note :-
Capital Reserve = (Assets –Liabilities ) – Purchase Consideration
(3,00,000-10,000)-2,70,000 = ₹ 20,000
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Ratio Analysis
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication