DK Goel Solutions ISC Q 19 Chapter 7 Company Accounts-Issue of Debentures Class 12 ISC [2023-24]
Step-by-step solution of Question 19, Chapter 7 Company Accounts – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the ISC Board.
Question 19
X Ltd. issued 25,000, 9% Debentures of ₹ 100 each at a premium of ₹ 4 per debenture on 1st April, 2021. On the same date it purchased assets of ₹ 10,00,000 and took over liabilities of ₹ 70,000 of Y Ltd. and paid ₹ 4,00,000 in Cash and remaining by issue of ₹ 5,00,000, 9% debentures at a premium of 6%. On the same date it took a loan from the Bank for ₹ 6,00,000 and issued 9% debentures as collateral security. Give entries and the extract of Balance Sheet on 31st March, 2022. Ignore interest.
Solution
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About this solution
This is Chapter 7 Company Accounts-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 ISC Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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