Bharat Limited purchased plant and machinery for 20,00,000 rupees from Delhi
machines limited by paying 5,00,000 Rupees by cheque and balance by issue of 11%
debentures of rupees 100 each at a premium of 20%. Pass necessary entry in the books
of Bharat Ltd. for the above transactions. Pass necessary entries in the books of Bharat
Limited for the above transactions.
Answers
Answered by
0
Answer:
Explanation:
BHARAT LTD
JOURNALS
Plant & machinery 2000000
To Delhi Machine A/c 2000000
Delhi machine A/c 500000
To Bank A/c 500000
Delhi machine A/c 1500000
To Debenture (11%) 1250000
To Securities 250000
Notes
Calculation of debentures issued
Purchase price / issue price= 2000000 -500000/120
= 1500000/ 120
= 12500
Similar questions