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Question No 23 Chapter 2 - UNIMAX Class 12 Part 2 - 2021
Journalise the following transactions.
(1) X Ltd. issues ₹ 2,00,000, 12% debenture at a discount of 5% redeemable at par.
(2) Y Ltd. issues ₹ 5,00,000 debentures at a discount of 5% redeemable at a premium of 7%.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 1 | Bank A/c | Dr. | 1,90,000 | ||
| Discount on issue of debenture A/c | Dr. | 10,000 | |||
| To Debenture A/c | 2,00,000 | ||||
| (Being Issued of debenture at 5% discount and redeemed at par) | |||||
| 2 | Bank A/c | Dr. | 4,75,000 | ||
| Discount on issue of debenture A/c | Dr. | 25,000 | |||
| Loss on issue of debenture A/c | Dr. | 35,000 | |||
| To Debenture A/c | 5,00,000 | ||||
| To premium on red of debenture A/c | 35,000 | ||||
| (Being issue of debenture at 5% discount and redeemed at 9 premium of 7%) | |||||
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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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