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Question no 34 Chapter 1- Class 12 Part 2 Unimax

Question no 34 Chapter 1- Class 12 Part 2 Unimax

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Question no 34 Chapter 1- Class 12 Part 2 Unimax

ABC ltd. purchases a running business from XYZ ltd. for a sum of ₹ 10,00,000 payable by the issued of fully paid equity shares of ₹ 100 each at a premium of 25%. The assets and liabilities consisted of the following:
Building ₹ 5,00,000, Machinery ₹ 4,00,000, Sundry Debtors ₹ 1,00,000, Sundry Creditors ₹ 2,00,000.
Pass the necessary journal entries in the books of ABC Ltd.

The solution of Question 34 Chapter 1 of +2 Part-2: –

Journal

Date  Particulars
L.F.DebitCredit
 Building A/cDr. 5,00,000 
 Machinery A/cDr. 4,00,000 
 Sundry Debtors A/cDr. 1,00,000 
 Goodwill A/cDr.  2,00,000 
 To Sundry Creditors A/c   2,00,000
 To XYZ Ltd.   10,00,000
 (Being the running business of XYZ Ltd., Purchased for ₹ 10,00,000)    
 XYZ Ltd. A/cDr. 10,00,000 
 To Equity share A/c  8,00,000
 To Securities Premium reserve A/c  2,00,000
 (Being the consideration paid by issued of equity shares of ₹ 100 each at a premium of 25%)   

End of Solution


Check Out the Solution of all questions for this chapter:

The solution to all questions of Chapter No. 1 – Company Accounts (Share Capital) Class 12 Unimax is shown as follows, click on the image of the question to get the solution.

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Check out all books for PSEB

1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax

UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.

Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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