Question No 11 Chapter 2 – UNIMAX Class 12 Part 2 – 2021
Table of Contents
Reliance Ltd. purchased machinery costing ₹ 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of ₹ 100 each. Assume debentures have been issued (1) at par and (2) at a discount of 10%. Give necessary journal entries.
[number of debentures issued (1) 1,350 (2) 1,500]
The solution of Question 11 Chapter 2 of +2 Part-2: –
Journal
Books of Reliance Ltd.
| Date | Particulars |
L.F. | Debit | Credit | |
| Machinery A/c | Dr. | 1,35,000 | |||
| To Vendor’s A/c | 1,35,000 | ||||
| (Being machinery purchased) | |||||
| Case 1 | Vendor’s A/c | Dr. | 1,35,000 | ||
| To Debenture A/c | 1,35,000 | ||||
| (Being 9% debenture issued to Vendor @ ₹ 10 each) | |||||
| Case 2 | Vendors A/c | Dr. | 1,35,000 | ||
| Discount on issue of debenture A/c | Dr. | 15,000 | |||
| To Debenture A/c | 1,50,000 | ||||
| (Being 9% debenture issued to Vendor @ ₹ 100 each at 10% discount) | |||||
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Share Capital: Meaning, Types, and Classes
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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