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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

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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.

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