X.Ltd. Purchased a Machinery from Y for an Agreed Purchase Consideration of Rs 4,40,000 to Be Satisfied By the Issue- Accountancy

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X.Ltd. purchased a Machinery from Y for an agreed purchase consideration of Rs 4,40,000 to be satisfied by the issue of 12% debentures of Rs 100 each at a premium of Rs 10 per debenture. Journalise the transactions.





DateParticularsL.F.
Amount
(Dr.)
Amount
(Cr.)
Machinery A/cDr.4,40,000
       To Y’s A/c4,40,000
(Being Machinery Purchased from Y)
Y’s A/cDr.4,40,000
       To 12% Debenture A/c4,00,000
      To Securities Premium A/c40,000
(Being Issued 4,000 debentures at premium of 10%)

Chapter-2 Issue and Redemption of Debentures-II



Location: India

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