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Question no 19 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -19 Chapter no -2 Unimax Class -12 Part - II
Question no -19 Chapter no -2 Unimax Class -12 Part - II

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Question No  19 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

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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.DebitCredit
 Machinery A/cDr.  1,98,000 
 To Suppliers Ltd. A/c   1,98,000
 (Being machinery purchased)    
Case 1Suppliers Ltd. A/cDr. 1,98,000 
 To Debenture A/c  1,98,000
 (Being 1980, 12% debenture issued at ₹ 100 each to suppliers Ltd.)   
Case 2Suppliers Ltd. A/cDr. 1,98,000 
 Discount on issue of debenture A/cDr. 22,000 
 To Debentures A/c  2,20,000
 (Being 12% debenture issued to Suppliers Ltd. To settle A/c)   
Case 3Suppliers Ltd. A/cDr. 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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