Question 16 Chapter 9 of Class 12 Part – 2 – 2024

The solution of Question 16 Chapter 9 of Class 12 Part – 2 – 2024: -

We are providing a solution of Question 16 Chapter 9 of Class 12 Part – 2 – 2024 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:

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The video consists solution of question numbers from 14 to 16 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 16 from the following video by using time stamps of the video.

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2. Check out the Solution of Question 16 Chapter 9 of Class 12 Part – 2 – 2024 in Article Format:-

Calculation of interest on calls-in- advance on March 1,2018

Amount received as calls-in-advance = 40(130+150)= Rs. 11,200

Out of which Rs. 5,200 is to be appropriated as first call money on June , 1 2018.

Interest on Rs. 5,200 @ 10 % premium pre annum for 3 months = Rs. 130

(i) Remaining amount (11,200-5,200) Rs. 6,000 to be appropriated as second final call on October 1, 2018

Interest on Rs. 6,000 @ 10 % premium pre annum for 7 months = Rs. 350

(ii) Total interest paid on Oct. 1, 2018 = 130+350= Rs. 480

Journal

Date	Particulars		L.F.	Debit ₹	Credit ₹
2018	Bank A/c	Dr.		1,00,000
Jan 1	To Debenture Application A/c				1,00,000
	(Being app. Money received )
	Debentures Application A/c	Dr.		1,00,000
	To 8% Debentures A/c				1,00,000
	(Being transfer of application money)
Mar 1	Debentures Allotment A/c	Dr.		1,20,000
	To 8% Debentures A/c				1,20,000
	(Being allotment money due )
Mar 1	Bank A/c	Dr.		1,31,200
	To Debentures allotment A/c				1,20,000
	To calls –in- advance A/c				11,200
	(Being amount received on allotment + calls-in-advance on 40 debentures )
June1	Debentures first call A/c	Dr.		1,30,000
	To 8% Debentures A/c				1,30,000
	(Being amount due on first call )
June1	Bank A/c	Dr.		1,24,800
	Calls-in-advance A/c	Dr.		5,200
	To Debentures first call A/c				1,30,000
	(Being amount received on first call )
Oct. 1	Debentures final A/c	Dr.		1,50,000
	To 8% Debentures A/c				1,50,000
	(Being amount due on final call )
Oct. 1	Bank A/c	Dr.		1,44,000
	Calls-in-advance A/c	Dr.		6,000
	To Debentures first call A/c				1,50,000
	(Being amount received on final call )
Oct. 1	Interest on calls-in-arrears A/c	Dr.		480
	To Bank A/c				480