Question no 13 Chapter 2 - UNIMAX Class 12 Part 2 - 2021

Question No  13 Chapter 2 - UNIMAX  Class 12 Part 2 - 2021

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.

The solution of Question 13 Chapter 2 of +2 Part-2: -

Journal
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)

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Usha Publication - Accountancy PSEB (Class 12) - Volume I - Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication - Accountancy PSEB (Class 12) - Volume II - Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size  
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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