Issue of Debenture For Consideration Other Than Cash Class-12 Accounts Boards- 2025

Issue of Debenture For Consideration Other Than Cash ( 3 Marks पक्के Class-12 Accounts Boards- 2025 instagram Link : https://www.instagram.com/manojsharma... 1. 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. 2. . Voltas Ltd. purchased plant & machinery from Euro Products Ltd. and paid the consideration as follows: (1) Issued a cheque for ₹15,00,000; (ii) Issued a Bill of Exchange for 3 months for ₹8,00,000; (iii) Issued 7,000; 8% Debentures of 100 each at par redeemable at 5% premium after 5 years. Pass journal entries. 3. Surya Ltd. purchased machinery from Mohan Equipment Ltd. The company paid the vendors by issue of 9% debentures and the balance through an acceptance in their favour payable after three months. The accountant of the company while Journalising the above mentioned transactions left some items blank. Fill in the blanks in the given below Journal of Surya Ltd.: Journal of Surya Ltd. Machinery A/c To Dr (Purchased machinery for 12,50,000 from Mohan Equipment Mohan Equipment Ltd. A/c Dr. To Securities Premium A/c (Issued 8,000, 9% Debentures of ₹100 each at a premium of 25%) 4. Fill in the blanks in the following journal entries: XYLO Ltd. JOURNAL Sundry Assets A/c Dr. To Sundry Creditors A/c To To (Business of Mahindra Ltd. purchased for a consideration of ₹5,00,000) Dr. Dr. To 9% Debentures A/c (Paid to Mahindra Ltd. by issue of of 100 each at a discount of 50 per debenture) 9% Debentures