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Question 22 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 22 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

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Question 22 Chapter 9 of +2-Part-1

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22. (Issue for Purchase Consideration Other than cash/at Discount) Rama Ltd. purchased machinery worth Rs. 72,000. For this company issued 12% debentures of Rs. 100 each at a discount of 4% in satisfaction of the purchase price. Pass the required journal entries

The solution of Question 22 Chapter 9 of +2 Part-1: –

Journal
Date  Particulars
L.F.Debit ₹Credit ₹
iMachinery A/cDr. 72,000 
 To Vendor’s A/ c   72,000
 (Being machinery purchased)   
     
iiVendor’s A/ cDr. 72,000 
 Discount on issues of Debenture A/ c (750 X 4)  3,000 
 To Debenture A/c (750 X 100)  75,000
 (Being consideration paid by issuing debentures at 4% discount )   
     

It all about Question 22 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: –

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

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

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