Question : Y Ltd. purchased machinery for Rs.90,000. Half the amount was paid in Cash and the remaining half by the issue of 12% Debentures of Rs. 100 each at a discount of 10%.
Debentures Issued of the face value of
Option 1: Rs 50,000
Option 2: 5,000 debentures
Option 3: 2,500 Debentures
Option 4: Rs 45,000
Correct Answer: Rs 50,000
Solution : Answer = Rs 50,000
Machinery A/c Dr. 90,000 Discount on issue of Debentures A/c Dr. 5,000 To cash A/c 45,000 To % Debentures 50,000 (45,000/ 90 (100 - 10) = 500 Debentures Hence, the correct option is 1.
Question :
Y Ltd., purchased plant and machinery for Rs.2,00,000 from Z Ltd. 20% of the amount was paid by Y Ltd. by accepting a bill of exchange in favour of Z Ltd. and the balance was paid by issuing 6% debentures of Rs. 1,000 each at a premium of
Question : Mk Ltd. purchased machinery for Rs.3,50,000 from K Ltd. on 28.2.2018. Rs.50,000 were paid to S K Ltd. immediately and the balance was paid by issue of 10% debentures of Rs.3,10,000 in Mk Ltd. Then the balance of Rs.10,000 will be transferred to
R Ltd. issued 10,000, 12% Debentures of Rs. 100 each at a discount of 5%. Discount on issue of debenture account will be ----------. Debenture account credited by --------
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