Question no 6 Chapter 2 - UNIMAX Class 12 Part 2 - 2021

Question No  6 Chapter 2 - UNIMAX  Class 12 Part 2 - 2021

Koinal Chemicals Ltd, issued 15,00,000, 10% debenture of ₹ 50 each at premium of 10% payable as ₹ 20 on application and balance on allotment, debenture are redeemable at par after 6 years. All the money due on allotment was called up and received. Record necessary entries when premium money is included:
(1) Application money
(2) Allotment money

The solution of Question 6 Chapter 2 of +2 Part-2: -

Journal
Books of ‘S’ Ltd.

Date	Particulars		L.F.	Debit	Credit
(i)	Premium including in app. Money
	Bank A/c	Dr.		3,75,00,000
	To Debenture application A/c				3,75,00,000
	(Being application money received on 15,00,000 debenture @ ₹ 25 per debenture including premium ₹ 5 per debenture)
	Debenture Application A/c	Dr.		3,75,00,000
	To Debenture A/c				3,00,00,000
	To Securities premium A/c				75,00,000
	(Being application money transferred to 10% debentures a/c and securities premium a/c)
	Debenture Allotment A/c	Dr.		4,50,00,000
	To Debentures A/c				4,50,00,000
	(Being allotment money due on 15,00,000 debenture @ ₹ 30 per share)
	Bank A/c	Dr.		4,50,00,000
	To Debenture allotment A/c				4,50,00,000
	(Being the allotment money received premium include in allotment money)
(ii)	Premium include in allotment money
	Bank A/c	Dr.		3,00,00,000
	To Debenture application A/c				3,00,00,000
	(Being application money received on 15,00,000 debenture @ ₹ 20 per debenture)
	Debenture application A/c	Dr.		3,00,00,000
	To Debenture A/c				3,00,00,000
	(Being application money transferred to 10% debenture a/c)
	Debenture allotment A/c	Dr.		5,25,00,000
	To Debenture A/c				4,50,00,000
	To Securities premium A/c				75,00,000
	(Being allotment money due on 1,50,000 debenture including premium of ₹ 5 per debenture)
	Bank A/c	Dr.		5,25,00,000
	To Debenture allotment a/c				5,25,00,000
	(Being allotment money received)

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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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