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प्रश्न
X Ltd. purchased assets of ₹ 18,00,000 and took over liabilities of ₹ 6,00,000 of Y Ltd. for a purchase consideration of ₹ 10,00,000. The payment to Y Ltd. was made by issue of 9% debentures of ₹ 100 each at ₹ 125. Calculate the number of 9% debentures issued in favour of Y Ltd. and pass the necessary journal entries for the above transactions in the books of X Ltd.
उत्तर
Calculation of no. of debentures issued:
Purchase consideration = ₹ 10,00,000
Nominal value of deb. = ₹ 100
Premium = 25
No. of Debentures issued = ₹ `(10,00,000)/125` = 8,000 Debentures
| In the Books of X Ltd. Journal Entries |
||||
| Date | Particular | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Assets A/c ...Dr. | 18,00,000 | - | |
|
To Liabilities A/c |
- | 6,00,000 | ||
| To Y Ltd. (Pur. Cons.) | - | 10,00,000 | ||
| To Capital Reserve (Balancing Figure) | - | 2,00,000 | ||
| (Being business taken over of Y Ltd.) | ||||
| 2. | Y Ltd. ...Dr. | 10,00,000 | - | |
| To 9% Debentures A/c | - | 8,00,000 | ||
| To Securities Premium Reserve A/c | - | 2,00,000 | ||
| (Being purchase consideration satisfied by giving 9% debentures.) |
||||
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संबंधित प्रश्न
Short Answer Question
Name the head under which ‘discount on issue of debentures’ appears in the Balance Sheet of a company.
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₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.
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Debentures which are transferable by mere delivery are ______.
When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to ______.
Excess value of net assets over purchase consideration at the time of purchase of business is credited to ______.
Loss on Issue of Debenture Account is shown:
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
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