Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 25 Chapter 9 of +2-Part-1 – USHA

Free Accounting book Solution - Class 11 and Class 12

25. (Different Cases of Debentures issues for Purchase Consideration other than Cash) Suvidha Ltd. Purchased machinery Rs. 1,98,000 from Suppliers Ltd. The payment was to be made by issue of 12% Debentures of Rs. 100 each. Pass the necessary Journal Entries for the purchase of machinery and issue of debentures when :
Debentures are issued at par.
(ii) Debentures are issued at 10% discount.
(iii) Debentures are issued at 10% premium.

The solution of Question 25 Chapter 9 of +2-Part-1 – USHA: –

Journal
Date   Particulars
L.F. Debit ₹ Credit ₹
i Machinery A/c Dr.   1,98,000  
  To Suppliers Ltd.       1,98,000
  (Being machinery purchased on credit )      
         
ii (a) At Par      
  Suppliers Ltd. Dr.   1,98,000  
  To 9 % Debenture A/c     1,98,000
  (Being consideration paid by issuing debentures at par )      
         
ii (b) At a discount of 10%      
  Suppliers Ltd. Dr.   1,98,000  
  Discount on issue of Debenture A/c  Dr.   22,000  
  To 9 % Debenture A/c     2,20,000
  (Being consideration paid by issuing debentures at 20% discount )      
         
ii (c) At a premium of 10%      
  Suppliers Ltd. Dr.   1,98,000  
  To 9 % Debenture A/c     1,80,000
  To Securities Premium A/c     18,000
  (Being consideration paid by issuing debentures at 25% premium )      
         

 

This is all about the Question 25 Chapter 9 of +2-Part-1 – USHA

You can check out the following article to better understand:

Debenture – Meaning, Definition, Features, and types

You Can also read all above articles in Hindi on our Hindi Website

Debenture – Meaning, Definition, Features, and types – In Hindi

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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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4 thoughts on “Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1”

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