Question

13. Microbeck Ltd. purchased Plant and Machinery for 1,00,000 payable as 20,000 in cash and balance bi
allotment of 6% Debentures of 1,000 each at a Premium of 25%. Journalise the above transactions​

Answer 1

Answer:

plant and machinery a/ c. dr. 100000

To vendor a/ c. 100000

vendor a/ c. dr. 100000

To cash. a/c. 20000

To 6℅debenture a/c. 64000

To security premium

reserve. 16000

Explanation:

no. of debenture issued

= 80000/1000+250

=80000/1250

=64