Question :
Akshit Ltd. purchased machinery of from Perfect Machines Ltd. and paid as follows:
(a) Issued 10,000 Equity shares of Rs. 10 each at a premium of Rs. 3;
(b) Issued an acceptance of Rs. 1,00,000 payable after 3 months; and
(c) Balance by issuing post-dated cheque of two months of Rs. 2,00,000
Amount will be paid to Perfect Machines Ltd. is
Option 1: Rs. 4,50,000
Option 2: Rs. 4,30,000
Option 3: Rs. 1,00,000.
Option 4: None of these
Correct Answer: Rs. 4,30,000
Solution : Answer = Rs.4,30,000
|
Date |
Particulars |
L.F. |
Dr. ( Rs.) |
Cr. ( Rs.) |
|
|
Machinery A/c |
...Dr. |
4,30,000 |
|||
|
To Perfect Machines Ltd. (Purchase of machinery from Perfect Machines Ltd.) |
4,30,000 |
||||
|
Perfect Machines Ltd. |
...Dr. |
4,30,000 |
|||
|
To Share Capital A/c |
|||||
1,00,000
To Securities Premium Reserve A/c
30,000
To Bills Payable A/c
1,00,000
To Bank A/c
2,00,000
(Payment made to Perfect Machines Ltd. by issue of shares, Bill Payable and cheque)
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