[DK Goel] Q. 33, 34 Issue of Debentures Solutions Class 12 CBSE (2026-27)
Here are the solution of question number 33 and 34 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2026-27).
Q. 33. Vayee Ltd. purchased the following assets of E.X. Ltd:
Land and Building of ₹ 60,00,000 at ₹ 84,00,000; Plant and Machinery of ₹ 40,00,000 at ₹ 36,00,000.
The purchase consideration was ₹ 1,10,00,000. Payment was made by accepting a Bill of Exchange in favour of E.X. Ltd of ₹ 20,00,000 and remaining by issue of 8% debentures of ₹ 100 each at a premium of 20%.
Record the necessary journal entries for the above transactions in the books of Vayee Ltd.
[Ans. Capital Reserve ₹ 10,00,000; Number of Debentures issued 75,000]
Solution:-
Q. 34. Tushar Ltd. purchased assets of ₹ 14,40,000 and liabilities of ₹ 2,55,000 from Chander Ltd. on 1.4.2021. ₹ 2,40,000 were paid immediately. Pass journal entries in the books of Tushar Ltd. if the balance was paid as follows:
Case (i) by issue of ₹ 9,00,000, 11% debentures in Tushar Ltd.
Case (ii) by issue of ₹ 10,50,000, 12% debentures in Tushar Ltd.
[Ans. Case (i) Securities Premium will be credited by ₹ 45,000; Case (ii) Discount on issue of debentures will be debited by ₹ 1,05,000.]
Solution:-
