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Question no 13 Chapter 2- Class 12 Part 2 Unimax
Wash Well Ltd. purchased furniture for ₹ 2,00,000 from M/s furniture mart. ₹ 1,10,000 were paid by cheque. The balance was paid by issue of 12% debentures of ₹ 100 each at a discount of 10% in favour of M/s furniture Mart. Pass the necessary journal entries in the books of Wash Well Ltd.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Furniture A/c | Dr. | 2,00,000 | |||
| To M/s Furniture Mart A/c | 2,00,000 | ||||
| (Being Furniture purchased) | |||||
| M/s Furniture Mart A/c | Dr. | 2,00,000 | |||
| Discount on issue of debenture A/c | Dr. | 10,000 | |||
| To Debenture A/c | 1,00,000 | ||||
| To Bank A/c | 1,10,000 | ||||
| (Being debenture issued to M/s Furniture Mart @ ₹ 100 discount of 10% & ₹ 1,10,000 by cheque to settle M/s furniture Mart’s A/c) | |||||
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.
This guide covers "Question no 13 Chapter 2- Class 12 Part 2 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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