Question

Disha Ltd purchased machinery from Nisha Ltd. and paid to Nisha Ltd. as follows :

1) By issuing 10,000 equity shares of Rs 10 each at a premium of 10%

2) By issuing 200, 9% debentures of  Rs 100 each at a discount of 10%.

3) Balance by accepting a bill of exchange of Rs 50,000 payable after one month.

Pass necessary journal entries in the books of Disha Ltd. for the purchase of machinery and making payment to Nisha Ltd.

Answer 1

Journal
Date	Particulars	L.F	Dr Rs	Cr. Rs
	Machinery A/c      Dr.     To Nisha Ltd. A/c (1,10,000 + 18,000 + 50,000) (Being Purchase machinery from Nisha Ltd.)		1,78,000	1,78,000
	Nisha Ltd. A/c (1,10,000 + 18,000 + 50,000)  Dr Discount on Issue of Debentures A/c (200 x 10)     To Equity Share Capital A/c(10,000 x Rs 10)     To Securities Premium A/c (10,000x Rs 1)     To 9% Debentures A/c (200 x Rs 100)     To Bills Payable A/c Being issued 10,000 equity share of Rs 10 each at a premium of 10% issued 2,00 9% Debentures of Rs 100 at a discount of 10% and balance by issuing bills of exchange account)		1,78,000 2,000	1,00,000 10,000 20,000 50,000