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

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

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. Debit Credit
  Furniture A/c Dr.   2,00,000  
  To M/s Furniture Mart A/c       2,00,000
  (Being Furniture purchased)        
  M/s Furniture Mart A/c Dr.   2,00,000  
  Discount on issue of debenture A/c Dr.   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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