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Question 18 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 18 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

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Question 18 Chapter 9 of +2-Part-1

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18. (Issue of debentures in consideration other than cash) M Ltd. Issued debentures of Rs. 80 at a premium of 10 per debenture for satisfying the purchase of machinery at Rs 45,000. Pass the required journal entries

The solution to Question 18 Chapter 9 of +2 Part-1: –

Journal
Date  Particulars
L.F.Debit ₹Credit ₹
iMachinery A/cDr. 45,000 
 To Vendor’s A/ c   45,000
 (Being machinery purchased )   
     
iiVendor’s A/ cDr. 45,000 
 To Debenture A/c  40,000
 To Security Premium Reserve A/ c  5,000
 (Being consideration paid by issuing debentures at Premium )   
     

It is all about Question 18 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

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You can also Check out the solved question of other Chapters: –

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

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

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