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Question 35 Chapter 9 of Class 12 Part – 2 – 2024
35. (Various Cases of Redemption) Journalise the following transactions: The face value of debenture is Rs. 1,000.
40 debentures issued at Rs. 950 each, repayable at Rs. 1,000 each.
(ii) 40 debentures issued at RS. 950 each, repayable at Rs. 1,050 each.
(iii) 40 debentures issued at Rs. 1000 each, repayable at Rs. 1,050 each.
(iv) 40 debentures issued at Rs. 1,050 each, repayable at Rs. 1,000 each.
We are providing a solution of Question 35 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. 35 from the following video by using time stamps of the video.
Journal
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
|---|---|---|---|---|---|
| i | Bank A/c (40 X950) | Dr. | 38,000 | ||
| To Debenture Application & allotment A/c | 38,000 | ||||
| (Being app. Money received) | |||||
| ii | Debenture Application & Allotment A/c (40 X950) | Dr. | 38,000 | ||
| Discount on issue of Debentures A/c(40 X50) | Dr. | 2,000 | |||
| To Debenture A/c | 40,000 | ||||
| (Being issue of 40 debentures at a discount of ₹ 50 per debenture) | |||||
| iii | Bank A/c (40 X ₹ 950) | Dr. | 38,000 | ||
| To Debenture Application & Allotment A/c | 38,000 | ||||
| (Being Application Money received) | |||||
| iv | Debenture Application & Allotment A/c | Dr. | 38,000 | ||
| Loss on issue of Debentures A/c | Dr. | 4,000 | |||
| To Debenture A/c(40 X1000) | 40,000 | ||||
| To Premium on redemption of debentures A/c (40 X50) | 2,000 | ||||
| (Being issue of debentures at par repayable at premium) | |||||
| v | Bank A/c (40 X 1000) | Dr. | 40,000 | ||
| To Debenture Application & Allotment A/c | 40,000 | ||||
| (Being receipt debentures app. Money) | |||||
| vi | Debenture Application & Allotment A/c | Dr. | 40,000 | ||
| Loss on issue of Debentures A/c | 2,000 | ||||
| To Debenture A/c (40 X1000) | 40,000 | ||||
| To Premium on redemption of debentures A/c(40 X50) | 2,000 | ||||
| (Being issue of debentures at discount repayable at premium ) | |||||
| vii | Bank A/c (40 X 1050) | Dr. | 42,000 | ||
| To Debenture Application & Allotment A/c | 42,000 | ||||
| (Being Application Money received) | |||||
| viii | Debenture Application & Allotment A/c | Dr. | 42,000 | ||
| To Debenture A/c (40 X1000) | 40,000 | ||||
| To Securities Premium A/c(40 X 50) | 2,000 | ||||
| (Being issue debentures at redeemable at premium 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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