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Question 25 Chapter 9 of Class 12 Part – 2 – 2024
25. (Different Cases of Debentures issues for Purchase Consideration other than Cash) Suvidha Ltd. Purchased machinery Rs. 1,98,000 from Suppliers Ltd. The payment was to be made by issue of 12% Debentures of Rs. 100 each. Pass the necessary Journal Entries for the purchase of machinery and issue of debentures when :
Debentures are issued at par.
(ii) Debentures are issued at 10% discount.
(iii) Debentures are issued at 10% premium.
We are providing a solution of Question 25 Chapter 9 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 21 to 24 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 25 from the following video by using time stamps of the video.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| i | Machinery A/c | Dr. | 1,98,000 | ||
| To Suppliers Ltd. | 1,98,000 | ||||
| (Being machinery purchased on credit ) | |||||
| ii (a) | At Par | ||||
| Suppliers Ltd. | Dr. | 1,98,000 | |||
| To 9 % Debenture A/c | 1,98,000 | ||||
| (Being consideration paid by issuing debentures at par ) | |||||
| ii (b) | At a discount of 10% | ||||
| Suppliers Ltd. | Dr. | 1,98,000 | |||
| Discount on issue of Debenture A/c | Dr. | 22,000 | |||
| To 9 % Debenture A/c | 2,20,000 | ||||
| (Being consideration paid by issuing debentures at 10% discount ) | |||||
| ii (c) | At a premium of 10% | ||||
| Suppliers Ltd. | Dr. | 1,98,000 | |||
| To 9 % Debenture A/c | 1,80,000 | ||||
| To Securities Premium A/c | 18,000 | ||||
| (Being consideration paid by issuing debentures at 10% premium ) | |||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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