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Question 1 Chapter 9 of +2-A
1. Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on the application; ₹ 25 on the allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made. Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Bank A/c | Dr | 50,000 | |||
| To 9%Debenture application A/c | 50,000 | ||||
| (Being the application money received ) | |||||
| 9% Debenture application A/c | Dr | 50,000 | |||
| To 9% Debenture A/c | 50,000 | ||||
| (Being application money transferred to equity share capital ) | |||||
| 9%Debenture allotment A/c | Dr | 50,000 | |||
| To 9%Debebture A/c | 50,000 | ||||
| (Being the first call money due ) | |||||
| Bank A/c | Dr | 50,000 | |||
| To 9% Debenture Allotment A/c | 50,000 | ||||
| (Being allotment money received ) | |||||
| 9%Debenture First and Final call A/c | Dr | 1,00,000 | |||
| To 9% Debenture A/c | 1,00,000 | ||||
| (Being share forfeited ) | |||||
| Bank A/c | Dr | 1,00,000 | |||
| To 9%Debenture first, call A/c | 1,00,000 | ||||
| (Being first call money received ) | |||||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 1 Chapter 9 of +2-A - T.S. Grewal 12 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 2.
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