Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Pariey Ltd. issued 2,000; 9% Debentures of ₹100 each, payable: ₹25 on application, ₹25 on allotment, and ₹50 on first and final call. Applications were received for all the debentures along with the application money, and allotment was made. Call money was also received on the due date. Pass the necessary Journal entries in the books of the company.
JOURNAL (Books of Pariey Ltd.)
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Bank A/c Dr. | 50,000 | |||
| To 9% Debenture Application A/c | 50,000 | |||
| (Debenture application money received for 2,000 debentures at ₹25 each) | ||||
| 9% Debenture Application A/c Dr. | 50,000 | |||
| To 9% Debentures A/c | 50,000 | |||
| (Debenture application money transferred to 9% Debentures Account) | ||||
| 9% Debenture Allotment A/c Dr. | 50,000 | |||
| To 9% Debentures A/c | 50,000 | |||
| (Debenture allotment money due on 2,000 debentures at ₹25 each) | ||||
| Bank A/c Dr. | 50,000 | |||
| To 9% Debenture Allotment A/c | 50,000 | |||
| (Debenture allotment money received) | ||||
| 9% Debenture First and Final Call A/c Dr. | 1,00,000 | |||
| To 9% Debentures A/c | 1,00,000 | |||
| (Debenture first and final call money due on 2,000 debentures at ₹50 each) | ||||
| Bank A/c Dr. | 1,00,000 | |||
| To 9% Debenture First and Final Call A/c | 1,00,000 | |||
| (Debenture first and final call money received) |
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.
This guide covers "T.S. Grewal Class 12 Vol 2 Chapter 2 Q.2 - Issue of Debentures", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 2 - Issue of Debentures.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 12 Vol 2 Chapter 2 Q.2 - Issue of Debentures" instantly.