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Accountancy · 2025 · 3 marks
Issue and Redemption of DebenturesIssue of Debentures for Consideration other than Cash3 marksshort answer
CBSE 2025 · Region 2 · Set 1 · Q19
Apoorv Ltd. ac uired building worth ₹ $\displaystyle 15,50,000$, Machinery worth ₹ $\displaystyle 11,40,000$ and Furniture worth ₹ $\displaystyle 1,10,000$ from I)hruv Ltd. and took over its liabilities of ₹ $\displaystyle 2,00,000$ for a purchase consideration of ₹ $\displaystyle 25,00$,000. Apoorv Ltd. paid the purchase consideration by issuing $\displaystyle 12$% debentures of ₹ $\displaystyle 100$ each at a premium of $\displaystyle 25$%. Pass the necessary journal entries in the books of Apoorv Ltd. for the above transactions.ORAjanta Ltd. purchased machinery worth $\displaystyle 5$ $\displaystyle 36.00.000$ from Sujata Ltd. Ajanta Ltd. aid half the amount to Sujata Ltd. through a bank draft and the balance Ey issuing $\displaystyle 8$% debentures of ₹ $\displaystyle 100$ each at a discount of $\displaystyle 10$%. Pass the necessary journal entries in the books of Ajanta Ltd. for the above transactions.
OR
Ajanta Ltd. purchased machinery worth $\displaystyle 5$ $\displaystyle 36.00.000$ from Sujata Ltd. Ajanta Ltd. aid half the amount to Sujata Ltd. through a bank draft and the balance Ey issuing $\displaystyle 8$% debentures of ₹ $\displaystyle 100$ each at a discount of $\displaystyle 10$%. Pass the necessary journal entries in the books of Ajanta Ltd. for the above transactions.Marking-scheme solution
Books of Apoorv Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount Amount
(₹) (₹)
Building A/c Dr. $\displaystyle 15,50,000$
Machinery A/c Dr. $\displaystyle 11.40,000$
Furniture A/c Dr. $\displaystyle 1,10,000$
To Liabilities A/c $\displaystyle 2,00,000$
To Dhruv Ltd. $\displaystyle 25,00,000$
To Capital Reserve A/c $\displaystyle 1,00,000$
(Assets and liabilities of Dhruv Ltd. taken over)
Dhruv Ltd. Dr. $\displaystyle 25,00,000$
To $\displaystyle 12$% Debentures A/c $\displaystyle 20,00,000$
To Securities Premium A/c $\displaystyle 5,00,000$
(Issue of $\displaystyle 20,000$ debentures at a premium of $\displaystyle 25$%)
Q. (b) Ajanta Ltd. purchased machinery…
Ans.
Books of Ajanta Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount Amount
(₹) (₹)
(i) Machinery A/c Dr. $\displaystyle 36,00,000$
To Sujata Ltd. $\displaystyle 36,00,000$
(Assets and liabilities of Rabi Ltd. taken over)
$\displaystyle 6$
(ii) Sujata Ltd. Dr. $\displaystyle 18,00,000$
To Bank A/c $\displaystyle 18,00,000$
(Half the amount paid to Sujata Ltd. through a bank
draft)
(iii)
Sujata Ltd. Dr. $\displaystyle 18,00,000$
Discount on issue of debentures A/c Dr. $\displaystyle 2,00,000$
To $\displaystyle 8$% Debentures A/c $\displaystyle 20,00,000$
($\displaystyle 2,000$ debentures issued at $\displaystyle 10$% discount to Sujata Ltd.)
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.