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

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

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

Journal
Date   Particulars
L.F. Debit Credit ₹
i Machinery A/c Dr.   45,000  
  To Vendor’s A/ c       45,000
  (Being machinery purchased )      
         
ii Vendor’s A/ c Dr.   50,000  
  To Debenture A/c     45,000
  To Secruity Premium Reserve A/ c     5,000
  (Being consideration paid by issuing debentures at Premium )      
         

It 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

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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