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Question no 13 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -13 Chapter no -2 Unimax Class -12 Part - II
Question no -13 Chapter no -2 Unimax Class -12 Part - II

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Question No  13 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

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Wash Well Ltd. purchased furniture for ₹ 2,00,000 from M/s furniture mart. ₹ 1,10,000 were paid by cheque. The balance was paid by issue of 12% debentures of ₹ 100 each at a discount of 10% in favour of M/s furniture Mart. Pass the necessary journal entries in the books of Wash Well Ltd.

The solution of Question 13 Chapter 2 of +2 Part-2: –

Journal
Books of Wash Well Ltd.

Date  Particulars
L.F.DebitCredit
 Furniture A/cDr. 2,00,000 
 To M/s Furniture Mart A/c   2,00,000
 (Being Furniture purchased)    
 M/s Furniture Mart A/cDr. 2,00,000 
 Discount on issue of debenture A/cDr. 10,000 
 To Debenture A/c  1,00,000
 To Bank A/c  1,10,000
 (Being debenture issued to M/s Furniture Mart @ ₹ 100 discount of 10% & ₹ 1,10,000 by cheque to settle M/s furniture Mart’s A/c)    

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