Newton Ltd. purchased a Machinery from B for ₹ 5,76,000 to be paid by the issue of 9% Debentures of ₹ 100 each at 4% discount. Journalise the trasactions.

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Solution

Books of Newton Ltd.

Journal

Date

Particulars

L.F.

Debit Amount

Rs

Credit Amount

Rs

Machinery A/c

Dr.

5,76,000

To B

5,76,000

(Machinery purchased from B)

B

Dr.

5,76,000

Discount on Issue of Debenture A/c

Dr.

24,000

To 9% Debenture A/c

6,00,000

(Issued 6,000 debentures at 4% discount)

Working Note:

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Books of Newton Ltd.
Journal
Date	Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
	Machinery A/c	Dr.		5,76,000
	To B				5,76,000
	(Machinery purchased from B)

	B	Dr.		5,76,000
	Discount on Issue of Debenture A/c	Dr.		24,000
	To 9% Debenture A/c				6,00,000
	(Issued 6,000 debentures at 4% discount)

Newton Ltd. purchased a Machinery from B for ​₹ 5,76,000 to be paid by the issue of 9% Debentures of ​₹ 100 each at 4% discount. Journalise the trasactions.

Books of Newton Ltd. Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Machinery A/c Dr. 5,76,000 To B 5,76,000 (Machinery purchased from B) B Dr. 5,76,000 Discount on Issue of Debenture A/c Dr. 24,000 To 9% Debenture A/c 6,00,000 (Issued 6,000 debentures at 4% discount) Working Note:

Newton Ltd. purchased a Machinery from B for ₹ 5,76,000 to be paid by the issue of 9% Debentures of ₹ 100 each at 4% discount. Journalise the trasactions.