[DK Goel] Q. 31, 32 Issue of Debentures Solutions Class 12 CBSE (2026-27)
Here are the solution of question number 31 and 32 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2026-27).
Q. 31. On 1st April, 2024, Varsha Ltd. purchased from Rama Ltd., furniture at 12,00,000 and machinery at 20,00,000. It also took over its liabilities amounting to 3,00,000. The purchase consideration of 35,00,000 was paid by issuing a bank draft of ₹2,00,000 and the balance by issue of
11% Debentures of ₹100 each, at a premium of 10%.
Pass necessary journal entries for the above transactions in the books of Varsha Ltd.
[Ans. No. of Debentures issued 30,000.]
Solution:-
Q. 32. Deepak Ltd. purchased furniture for ₹ 2,20,000 from M/s Furniture Mart. 50% of the amount was paid to Furniture Mart by accepting a bill of exchange and for the balance the company issued 9% debentures of ₹ 100 each at a premium of 10% in favour of Furniture Mart.
Pass necessary journal entries in the books of Deepak Ltd. for the above transactions.
[Ans. Debentures issued of the face value of ₹ 1,00,000; Securities Premium ₹ 10,000.]
Solution:-
