Question 27 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 27 Chapter 9 of +2-A

Question 27 Chapter 9 of +2-A

27. Sangam Woollens Ltd.’, Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from these villages in its newly established factory. The company issued 40,000 Equity Shares of Rs 10 each and 1,000, 9% Debentures of Rs 100 each to the vendor for the purchase of machinery of Rs 5,00,000.
Pass necessary Journal entries..

The solution of Question 27 Chapter 9 of +2-A: – 

         
Date Particulars
L.F. Debit Credit
  Machinery A/c Dr   5,00,000  
  To Vendor A/c       5,00,000
  (Being machinery purchased from a vendor . )        
  Vendor. A/c Dr   5,00,000  
  To Equity Shares capital A/c       5,00,000
  To 9%Debentures A/c       1,00,000
  (Being Equity Shares and debenture issued )        

 


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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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