Question 1 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 1 Chapter 9 of +2-A

Question 1 Chapter 9 of +2-A

1. Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on the application; ₹ 25 on the allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made. Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.

The solution of Question 1 Chapter 9 of +2-A: – 

         
Date Particulars
L.F. Debit Credit
   Bank A/c Dr   50,000  
  To 9%Debenture application A/c       50,000
  (Being the application money received )        
           
   9% Debenture application A/c Dr   50,000  
  To 9% Debenture A/c       50,000
  (Being application money transferred to equity share capital )        
           
   9%Debenture allotment A/c Dr   50,000  
  To 9%Debebture A/c       50,000
  (Being the first call money due )        
           
  Bank A/c Dr   50,000  
  To 9% Debenture Allotment A/c       50,000
  (Being allotment money received  )        
           
  9%Debenture First and Final call A/c Dr   1,00,000  
  To 9% Debenture A/c       1,00,000
  (Being share forfeited )        
           
  Bank A/c Dr   1,00,000  
  To 9%Debenture first, call A/c       1,00,000
  (Being first call money received )        

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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 2 min - Question 1 Chapter 9 of +2-A - T.S. Grewal 12 Class

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