Venus Ltd., is a real estate company. To discharge its corporate Social Responsibility, it decided to construct a night shelter for the homeless. The company took over assets of Rs. 10,00,000 and liabilities of Rs. 1,80,000 of Cayns Ltd. for Rs. 7,60,000. Venus Ltd. issued 9% Debentures of Rs. 100 each … Read more
Z Ltd. purchased machinery from K Ltd. Z Ltd. paid K Ltd as follows: (i) By issuing 5,000 equity shares of Rs. 10 each at a premium of 30%. (ii) By issuing 1000, 8% Debentures of Rs. 100 each at a discount of 10%. (iii) Balance by giving a promissory note of Rs. 48,000 payable … Read more
V K Limited purchased machinery from Modern Equipment Manufacturers Limited. The company paid the vendors by issue of some equity shares and debentures and the balance through an acceptance in their favour payable after three months. The accountant of the company, while Journalising the above mentioned transactions, left some items blank. You are required to … Read more
K K Limited obtained a loan of Rs. 10,00,000 from State Bank of India @ 9 % interest. The company issued Rs. 15,00,000, 9 % debentures of Rs. 100/- each, in favour of State Bank of India as collateral security. Pass necessary Journal entries for the above transactions: (i) When company decided not to record … Read more
S. Singh Limited obtained a loan of ₹ 5,00,000 from State Bank of India @ 10 % interest. The company issued ₹ 7,50,000, 10 % debentures of ₹ 100/- each, in favor of State Bank of India as collateral security. Pass necessary journal entries for the above transactions: When company decided not to record the … Read more
Complete the following Journal Entries Marks-3, CBSE:2018-19/Sample/Q-9* Answer Previous Or Next Back
Pass necessary journal entries and prepare 9% Debentures Account for the issue of 7,500, 9% Debentures of Rs. 50 each at a discount of 6%, redeemable at a premium of 10%. Marks-3, CBSE:2018-19/Main/04/Q-10 Answer Previous Or Next Back
Nano Ltd. purchased assets of Dow Ltd. for Rs. 3,00,000. It also agreed to take over the liabilities of Dow Ltd. amounting to Rs. 50,000 for a purchase consideration of Rs. 2,75,000. The payment to Dow Ltd. was made by issue of 8% Debentures of Rs. 50 each at a premium of 10%. Pass necessary … Read more
‘ZK Ltd.’ issued Rs. 4,00,000, 9% Debentures of Rs. 100 each at a discount of 5% redeemable at a premium of 10%. Pass necessary journal entries for the above transactions in the books of ‘ZK Ltd.’ Marks-3, CBSE:2018-19/Main/02/Q-8* Answer Previous Or Next Back
‘UZ Ltd.’ purchased Plant and Machinery from Elk Machine Ltd. for Rs. 6,90,000. Elk Ltd. was paid by accepting a draft of Rs. 90,000 payable after three months and the balance by issue of 6% debentures of Rs. 100 each at a discount of 20%. Pass necessary journal entries for the above transactions in the … Read more