Question no 4 Chapter 2 - UNIMAX Class 12 Part 2 - 2021

Question No 4 Chapter 2 - UNIMAX  Class 12 Part 2 - 2021

A company issued 4,000, 14% debenture of ₹ 100 each payable as ₹ 30 On application and the balance on allotment. Application were received for 6,000 debentures out of which applications for 3,500 debentures were fully. Applications 1,500 debentures were allotted 500 debentures and the remaining rejected. All the sums were duly received. Journal the issue.

The solution of Question 4 Chapter 2 of +2 Part-2: -

Journal
Books of of M/S A Ltd.

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr.		1,80,000
	To Debenture application A/c				1,80,000
	(Being application money received)
	Debenture Application A/c	Dr.		1,80,000
	To Debenture A/c				1,20,000
	To Debenture allotment A/c				30,000
	To Bank A/c				30,000
	(Being application money adjusted to 14% debenture allot and other refunded)
	Debenture Allotment A/c	Dr.		2,80,000
	To Debentures A/c				2,80,000
	(Being allotment money due on 4000 debenture @ ₹ 70 each debenture)
	Bank A/c	Dr.		2,50,000
	To Debenture allotment A/c				2,50,000
	(Being allotment money received)

Working Note: 

	Lot 1	Lot 2	Lot 3	Total
No. of Debenture applied	11,800	400	200	2400
No. of debenture allotted	1,800	200	Nil	2000
Over subscription	Nil	200	200	400
	₹	₹	₹	₹
Excess amount received of application		4000	4000	8000
Less: amount adjusted on all		4000	Nil	4000
Amount to be refunded			4000	4000

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Usha Publication - Accountancy PSEB (Class 12) - Volume I - Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication - Accountancy PSEB (Class 12) - Volume II - Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size  
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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