DK Goel Solutions Q 16 Chapter 7 Issue of Debentures Class 12 CBSE [2023-24]
Step-by-step solution of Question 16, Chapter 7 Accounting for Companies – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 16
Gunjan Limited purchased a running business from Vrindavan Limited for a sum of ₹ 25,00,000, payable ₹ 4,00,000 by cheque and for the balance issued 8% Debentures of ₹ 100 each at 5% premium.
The assets and liabilities consisted of the following (Book Value / Agreed Value) :
- Land and Buildings ₹ 5,00,000 / ₹ 9,00,000
- Plant and Machinery ₹ 10,00,000 / ₹ 8,00,000
- Patents ₹ 1,00,000 / ₹ 40,000
- Sundry Debtors ₹ 8,00,000 / Subject to 5% Provision
- Stock ₹ 6,00,000 / ₹ 4,40,000
- Sundry Creditors ₹ 1,20,000 / ₹ 1,20,000
Record necessary journal entries in the books of Gunjan Limited.
Solution
All questions of Chapter 7
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About this solution
This is Chapter 7 Accounting for Companies – Issue of Debentures of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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