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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

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

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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.DebitCredit
 Machinery A/cDr. 5,76,000 
 To B’s A/c  5,76,000
 (Being machinery purchased)    
 B’s A/cDr. 5,76,000 
 Discount on issue of debenture A/cDr. 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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