Q. 17 DK Goel Issue of Debentures Solutions Class 12 CBSE (2024-25)

Here are the solution of question number 17 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2024-25)

Disha Ltd. purchased machinery from Nisha Ltd. and paid to Nisha Ltd. as follows:

(i) By issuing 10,000, equity shares of ₹ 10 each at a premium of 10%.

(ii) By issuing 200, 9% debentures of ₹ 100 each at a discount of 10%

(iii) Balance by accepting a bill of exchange of ₹ 50,000 payable after one month.

Pass necessary journal entries in the books of Disha Ltd.

[Ans. Machinery purchased for ₹ 1,78,000. Discount on Issue of Debentures will be written off from Securities Premium A/c.]

Solution:-