Advertisement

Question 16 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 16 Chapter 9 of +2-A
Question No16 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

Advertisement

Question 16 Chapter 9 of +2-A

Advertisement

16. Reliance Ltd. purchased machinery costing ​₹  1,35,000. It was agreed that the purchase consideration is paid by issuing 9% Debentures of ​₹  100 each. Assume debentures have been issued
(i) at par and
(ii)at a discount of 10%.
Give necessary journal entries.

The solution of Question 16 Chapter 9 of +2-A: – 

     
DateParticulars
L.F.DebitCredit
  Machine A/cDr 1,35,000 
 To Vendor A/c   1,35,000
 (Being asset purchased )    
 Vendor A/cDr 1,35,000 
 To 6%Debenture A/c   1,35,000
 (Being Debenture Issued)    

Working Note

 

No of Debenture to be issued =Purchase consideration=1,35,000= 1,350 shares
Issue price100

Advertisement-X

 

 

DateParticulars
L.F.DebitCredit
  Machine A/cDr 1,35,000 
 To Vendor A/c   1,35,000
 (Being asset purchased )    
 Vendor A/cDr 1,35,000 
 Discount on Issue of Debenture A/cDr 15,000 
 To 6%Debenture A/c   1,50,000
 (Being Debenture Issued)    

Working Note

 

No of Debenture to be issued =Purchase consideration=1,35,000= 1,500 shares
Issue price90

 

 

Advertisement-X


Please Like and share with your friends  

Comment if you have any question.

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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 2-min

Advertisement

Advertisement

error: Content is protected !!