Newton Ltd. purchased a Machinery from B for Rs. 5,76,000 to be paid by the issue of 9% Debentures of Rs. 100 each at 4% discount. Journalise the transactions. Post category:Accountancy Reading time:1 mins read Solution Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostAnanya Ltd. purchased an established business for Rs. 2,00,000 payables as Rs. 65,000 by cheque and the balance by issuing 9% Debentures of Rs. 100 each at a discount of 10%. Give journal entries in the books of Ananya Ltd. Next PostReliance Ltd. purchased machinery costing Rs. 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of Rs. 100 each. Assume debentures have been issued (i) at par and (ii)at a discount of 10%. Give necessary journal entries. You Might Also Like Total Assets Rs. 12,50,000; Total Debts Rs. 10,00,000; Current Liabilities Rs. 5,00,000. Calculate Debt to Equity Ratio. August 12, 2022 Balance Sheet of X, Y and Z who shared profits in the ratio of 5 : 3 : 2, as on 31st March, 2019 was as follows: August 4, 2022 Bright Ltd. issued 5,000; 10% Debentures of Rs. 100 each on 1st April, 2015. The issue was fully subscribed. According to the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March and the tax deducted at source is 10%. Pass necessary journal entries related to the debenture interest for the year ending 31st March, 2016 and transfer of interest on debentures of the year to the Statement of Profit and Loss. July 18, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.