Question 22 Chapter 9 of +2-Part-1
Table of Contents
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 ₹ | |
i | Machinery A/c | Dr. | 72,000 | ||
To Vendor’s A/ c | 72,000 | ||||
(Being machinery purchased) | |||||
ii | Vendor’s A/ c | Dr. | 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: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
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