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प्रश्न
Wye Ltd . purchased an established business for ₹ 2,00,000 payable as ₹ 65,000 by cheque and the balance by issuing 9% Debentures of ₹ 100 each at a discount of 10%.
Give journal entries in the books of Wye Ltd.
उत्तर
Books of Wye Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Sundry Assets A/c |
Dr. |
|
2,00,000 |
|
|
|
To Vendor A/c |
|
|
2,00,000 |
|
|
|
(Business purchased) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vendor A/c |
Dr. |
|
65,000 |
|
|
|
To Bank A/c |
|
|
65,000 |
|
|
|
(Amount paid to Vendor in cash) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Vendor A/c |
Dr. |
|
1,35,000 |
|
|
|
Discount on Issue of Debentures A/c |
Dr. |
|
15,000 |
|
|
|
To 9% Debentures A/c |
|
|
1,50,000 |
|
|
|
(Issued 1,500 debentures at 10% discount) |
|
|
|
|
Working Note:
No.of debentures to be issued = `"Purchase Consideration" / "Issue Price" = 135000 / 90 = 1500 "debentures"`
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संबंधित प्रश्न
Long Answer Question
How is ‘Discount on Issue of Debentures’ treated in the books of accounts? How will you deal with the ‘discount in issue of debentures’ when the debentures are to be redeemed in instalments?
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