Question no 10 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -10 Chapter no -2 Unimax Class -12 Part - II
Question no -10 Chapter no -2 Unimax Class -12 Part - II

Question No 10 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

Newton Ltd. purchase a Machinery from B for an agreed purchase consideration of ₹ 5,76,000 to be satisfied by the issue of 9% debenture of ₹ 100 each at 4% discount. Journal the transaction.
[6,000 debentures of ₹ 100 each]

The solution of Question 10 Chapter 2 of +2 Part-2: –

Journal
Books of Newton Ltd.

Date   Particulars
L.F. Debit Credit
  Machinery A/c Dr.   5,76,000  
  To B’s A/c     5,76,000
  (Being machinery purchased)        
  B’s A/c Dr.   5,76,000  
  Discount on issue of debenture A/c Dr.   24,000  
  To Debenture A/c     24,000
  (Being 6000 Debenture @₹100 each issued to settle the a/c of B)      

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