Question 14 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 14 Chapter 9 of +2-A

Question 14 Chapter 9 of +2-A

14. Wye Ltd . purchased an established business for ​₹  2,00,000 payable as ​₹  65,000 by cheque and the balance by issuing 9% Debentures of ​₹  100 each at a discount of 10%.
Give journal entries in the books of Wye Ltd.

The solution of Question 14 Chapter 9 of +2-A: – 

         
Date Particulars
L.F. Debit Credit
   Sundry assets A/c Dr   9,00,000  
  To Vendor A/c       9,00,000
  (Being asset purchased )        
  Vendor A/c Dr   9,00,000  
  To Bank A/c       9,00,000
  (Being the amount paid to the vendor in cash)        
  Vendor A/c Dr   1,35,000  
  Discount on Issue of Debenture A/c Dr   15,000  
  To 6%Debenture A/c       1,50,000
  (Being Debenture Issued)        

 


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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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