Question

1 point

X Ltd. Purchased a Machinery for Rs.9,00,000 and consideration was paid by issuing 12 % Debentures of Rs. 100 each at 10 % discount . Find Number of Debentures were issued _____​

Answer 1

Answer:

number of issue = 10,000

Explanation:

Machinery a/c. Dr. 9,00,000

To sundry vendor a/c. 9,00,000

Sundry vendor a/c Dr. 8,10,000

Discount on issue of

12%debenture a/c Dr. 90,000

To 12% debenture a/c 9,00,000

consideration paid by issue of 12% debenture

= 9,00,000/100-90 = 10,000

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