Question

XMT Ltd. Purchased building of Tim Tom Ltd for Real 8,00,000. The consideration was paid by issue of 12% debentures of Rs 100 each at a discount of Rs 20. 12% debentures account is credited with
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Answer 1

Explanation:

Building a/c. Dr. 8,00,000

To Tim Tom Ltd. 8,00,000

Tim Tom Ltd Dr. 6,40,000

Discount on issue of

12% debenture a/c Dr 1,60,000

To 12% debenture a/c 8,00,000

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