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Question 33 Chapter 9 of Class 12 Part – 2 – 2024
33. (Different cases of Issue of Debentures) How will you record the entries relating to issue of debentures in following cases.
(i)Rs. 1,00,000 10% Debentures of Rs. 100 each issued at par redeemable at par.
(ii) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at par but redeemable at Rs. 110.
(iii) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at Rs. 95 but redeemable at Rs. 105.
(iv) Rs. 1,00,000 10 % Debentures of Rs. 100 each issued at Rs. 90 but redeemable at par.
(v) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at Rs. 110 but redeemable at Rs. 100.
We are providing a solution of Question 33 Chapter 9 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 33 to 36 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 33 from the following video by using time stamps of the video.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| i | Bank A/c | Dr. | 1,00,000 | ||
| To Debenture Application & allotment A/c | 1,00,000 | ||||
| (Being subscription Amount received on 1,000 debentures @ ₹100 each ) | |||||
| ii | Debenture Application & Allotment A/c | Dr. | 1,00,000 | ||
| To 10% Debenture A/c | 1,00,000 | ||||
| (Being issue of debentures at par) | |||||
| iii | Bank A/c | Dr. | 1,00,000 | ||
| To Debenture Application & Allotment A/c | 1,00,000 | ||||
| (Being receipt of Rs. 100 per debentures on 1000 debentures) | |||||
| iv | Debenture Application & Allotment A/c | Dr. | 1,00,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on redemption of debentures A/c | 10,000 | ||||
| (Being issue of debentures at par redeemable at 10 % premium) | |||||
| v | Bank A/c | Dr. | 95,000 | ||
| To Debenture Application & Allotment A/c | 95,000 | ||||
| (Being receipt of Rs. 95 per debentures on 1000 debentures) | |||||
| vi | Debenture Application & Allotment A/c | Dr. | 95,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on Redemption of Debentures A/c | 5,000 | ||||
| (Being issue of debentures at discount repayable at premium) | |||||
| vii | Bank A/c | Dr. | 90,000 | ||
| To Debenture Application & Allotment A/c | 90,000 | ||||
| (Being receipt of Rs. 110 per debentures on 1000 debentures) | |||||
| viii | Debenture Application & Allotment A/c | Dr. | 90,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| (Being issue of 1000 debentures at redeemable at 10 % premium at par) | |||||
| ix | Bank A/c | Dr. | 1,10,000 | ||
| To Debenture Application & Allotment A/c | 1,10,000 | ||||
| (Being subscription amount received) | |||||
| x | Debenture Application & Allotment A/c | Dr. | 1,10,000 | ||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on redemption of debentures A/c | 10,000 | ||||
| (Being issue of debentures at premium redeemable at par) | |||||
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.
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