What is the main topic of "Question 28 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1"?

This guide covers "Question 28 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).

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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.

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Question 28 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

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Focus Topic:Question 28 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

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Comprehensive academic guide covering core concepts of Question 28 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1.
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Question 28 Chapter 9 of +2-Part-1

28. (Different cases of Issue of Debentures) Give journal entries in each of the following at Rs. 100.alternative cases assuming the face value of a debenture being Rs. 100.
A 12% debenture issued at Rs. 100 repayable at Rs. 100.
(b) A 12% debenture issued at Rs. 95 repayable at Rs. 100.
(c) A 12% debenture issued at Rs. 105 repayable at Rs. 100.
(d) A 12% debenture issued at Rs. 100 repayable at Rs. 105.
(e) A 12% debenture issued at Rs. 95 repayable at Rs.105.
(f) A 12% debenture issued at Rs. 105 repayable at Rs 110.

The solution of Question 28 Chapter 9 of +2 Part-1: -

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Date

Particulars

L.F.

Debit ₹

Credit ₹

Bank A/c

Dr.

100

To Debenture Application & allotment A/c

100

(Being receipt of debenture money received)

Debenture Application & Allotment A/c

Dr.

100

To 12% Debenture A/c

100

(Being issue of debentures at par)

Bank A/c

Dr.

To Debenture Application & Allotment A/c

(Being receipt debentures money )

Debenture Application & Allotment A/c

Dr.

Discount on issue of Debentures A/c

Dr.

To 10% Debenture A/c

100

(Being issue of debentures at par redeemable at 10 % premium)

Bank A/c

Dr.

105

To Debenture Application & Allotment A/c

105

(Being receipt debentures app. Money)

Debenture Application & Allotment A/c

Dr.

105

To 12% Debenture A/c

100

To Premium on Redemption of Debentures A/c

(Being issue of debentures at discount repayable at premium )

Bank A/c

Dr.

100

To Debenture Application & Allotment A/c

100

(Being receipt debentures app. Money )

Debenture Application & Allotment A/c

Dr.

100

Loss on issue of Debentures A/c

Dr.

To 12% Debenture A/c

100

To Premium on redemption of debentures A/c

(Being the issue of debentures at par but redeemable at 5% prepium)

Bank A/c

Dr.

To Debenture Application & Allotment A/c

(Being the receipt of Debenture Application Money)

Debenture Application & Allotment A/c

Dr.

Loss on issue of Debentures A/c

Dr.

To 12% Debenture A/c

100

To Premium on redemption of debentures A/c

(Being issue of debentures at premium redeemable at par)

Bank A/c

Dr.

105

To Debenture Application & Allotment A/c

105

(Being subscription amount received )

Debenture Application & Allotment A/c

Dr.

105

Loss on issue of Debentures A/c

Dr.

To 12% Debenture A/c

100

To Securities Premium Reserve A/c

To Premium on redemption of debentures A/c

(Being issue of debentures at 5 % discount which are redeemable at 10% premium )

Question 28 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

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The solution of Question 28 Chapter 9 of +2 Part-1: -

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