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DK Goel Solutions ISC Q 11 Chapter 7 Company Accounts-Issue of Debentures Class 12 ISC [2023-24]

Question 11 of 26Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 11, Chapter 7 Company Accounts – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the ISC Board.

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Question 11

Moon Craft Ltd. purchased machinery for ₹ 2,70,000. As per the agreement, the payment is to be made by issuing sufficient number of 5% Debentures of ₹ 100 each.

You are required to calculate number of debentures to be issued & pass the necessary journal entries in the books of the Company if the said Debentures are issued:

  1. (i) at a discount of 10%.
  2. (ii) at a premium of 20%.

Discount on issue is to be written off in the very first year.

DK Goel Class 12 Issue of Debentures Question 11

Solution

Solution of Q 11 Issue of Debentures DK Goel 2023-24 part 1
Solution of Q 11 Issue of Debentures DK Goel 2023-24 part 2
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About this solution

This is Chapter 7 Company Accounts-Issue of Debentures of DK Goel For 2024 Examinations.

Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.

We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.

Also, we have followed the proper format and workings which are required as per ISC Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.

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