DK Goel Solutions Q 21 Chapter 7 Issue of Debentures Class 12 CBSE [2023-24]
Step-by-step solution of Question 21, Chapter 7 Accounting for Companies – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 21
X Ltd. issued 25,000, 9% Debentures of ₹ 100 each at a premium of ₹ 4 per debenture on 1st April, 2022. On the same date it purchased Property, Plant and Equipment of ₹ 10,00,000 and took over current 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 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, 2023. Ignore interest.
Solution
All questions of Chapter 7
Orange = this question · Grey = already opened.
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.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.