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Question 14 Chapter 9 of +2-Part-1
14. (Calls in arrear) A Ltd. issued 1,50,000, 15% Debentures of Rs. 100 each, Rs. 40 was with application, 40 with the allotment and balance with the first and final call debentures were applied. All the amount was received except first and final call on 5,000debentures. Pass necessary journal entries.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| Bank A/c | Dr. | 60,00,000 | |||
| To 15 % Debenture Application A/c | 60,00,000 | ||||
| (Being app. Money received ) | |||||
| 15 % Debenture Application A/c | Dr. | 60,00,000 | |||
| To 15 % Debenture A/c | 60,00,000 | ||||
| (Being 1,50,000 debenture allotted ) | |||||
| 15 % Debenture Allotment A/c | Dr. | 60,00,000 | |||
| To 15% Debenture A/c | 60,00,000 | ||||
| (Being debentures allotment due) | |||||
| Bank A/c | Dr. | 30,00,000 | |||
| To 15 % Debenture Allotment A/c | 30,00,000 | ||||
| (Being allotment money received ) | |||||
| Bank A/c | Dr. | 29,00,000 | |||
| Calls in arrears A/c | Dr. | 1,00,000 | |||
| To Debenture call A/c | 30,00,000 | ||||
| (Being call money received ) | |||||
It all about Question 14 Chapter 9 of +2-Part-1, If you have any problem please comment below.
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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 14 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter No. 9 - Company Accounts (Issue of Debentures).
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 14 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1" instantly.
