Question No 19 Chapter 2 – UNIMAX Class 12 Part 2 – 2021
Table of Contents
Suvidha Ltd. purchases machinery worth ₹ 1,98,000 from Suppliers Ltd. The payment was made by issue of 12% debentures of ₹ 100 each. Pass necessary journal entries for the purchase of machinery and issue of debentures when:
(1) Debenture are issued at par.
(2) Debenture are issued at 10% discount.
(3) Debenture are issued at 10% premium.
The solution of Question 19 Chapter 2 of +2 Part-2: –
Journal
In the Books of Suvidha Ltd.
| Date | Particulars |
L.F. | Debit | Credit | |
| Machinery A/c | Dr. | 1,98,000 | |||
| To Suppliers Ltd. A/c | 1,98,000 | ||||
| (Being machinery purchased) | |||||
| Case 1 | Suppliers Ltd. A/c | Dr. | 1,98,000 | ||
| To Debenture A/c | 1,98,000 | ||||
| (Being 1980, 12% debenture issued at ₹ 100 each to suppliers Ltd.) | |||||
| Case 2 | Suppliers Ltd. A/c | Dr. | 1,98,000 | ||
| Discount on issue of debenture A/c | Dr. | 22,000 | |||
| To Debentures A/c | 2,20,000 | ||||
| (Being 12% debenture issued to Suppliers Ltd. To settle A/c) | |||||
| Case 3 | Suppliers Ltd. A/c | Dr. | 1,98,000 | ||
| To Debenture A/c | 1,80,000 | ||||
| To Securities premium reserve A/c | 18,000 | ||||
| (Being debenture issued to suppliers Ltd. To settle their a/c) | |||||
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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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