Question 1 Chapter 9 of Class 12 Part – 2 – 2024

Question 1 Chapter 9 of Class 12 Part – 2 – 2024

1. (Issue at Par) X Ltd. issued 1,000, 5% Debentures of Rs. 100 each at par, payable Rs. 20 on application, Rs. 20 on allotment, Rs. 30 on first call and 30 on second call. All the amounts were duly received. Pass necessary journal entries.

The solution of Question 1 Chapter 9 of Class 12 Part – 2 – 2024: -

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2. Check out the Solution of Question 1 Chapter 9 of Class 12 Part – 2 – 2024 in Article Format:-

Journal

Date	Particulars		L.F.	Debit	Credit
A)	Bank A/c (1,000X 20)	Dr.		20,000
	To Debenture Application A/c				20,000
	(Being the receipt of app. Amount @ Rs. 20 on 1,000 debentures )
B)	Debenture Application A/c	Dr.		20,000
	To 5% Debenture A/c				20,000
	(Being transfer of app. Money debenture A/c)
C)	Debenture Allotment A/c (1,000 X 20)	Dr.		20,000
	To 5% Debenture A/c				20,000
	(Being allotment money due )
D)	Bank A/c	Dr.		20,000
	To Debenture Allotment A/c				20,000
	(Being allotment money received )
E)	Debenture First Call A/c (1,000 X 30)	Dr.		30,000
	To 5% Debenture A/c				30,000
	(Being first call money due )
F)	Bank A/c	Dr.		30,000
	To Debenture first call A/c				30,000
	(Being first call money received )
G)	Debenture Second & Final Call A/c (1,000 X 30)	Dr.		30,000
	To 5% Debenture A/c				30,000
	(Being Second & final call money due )
H)	Bank A/c	Dr.		30,000
	To Debenture Second & Final Call A/c				30,000
	(Being Second & final call money received )