Please do all journal entries

Solution
. Journal

In the books of King Ltd.

Date	Particulars	L.F	Dr	Cr
(i)	Land A/c. Dr.		12,00,000
	To bank A/c			12,00,000
	(Being land purchase )
(ii)	Land A/c. Dr.		10,00,000
	To Queens Ltd			10,00,000
	(Being land purchase)
	Queens Ltd Dr.		10,00,000
	To Bills Payable A/c			10,00,000
	(Being the acceptance given to Queen)
(iii)	Land A/c. Dr.		8,00,000
	To Queen's Ltd			8,00,000
	(Being the purchase of land)
	Queen Ltd A/c(8000 × 100). Dr. loss on issues of debentures A/c. Dr		8,00,000 40,000
	To 7% debentures A/c			8,00,000
	To premium on redemption of debentures A/c			40,000
	(Being the debentures issue at par and redeem at premium)